Increase in Earnings Per Share
Consolidated earnings per share for the first quarter of 2025 were $0.70, an increase of $0.08 compared to $0.62 in the first quarter of 2024.
New Regulatory Approvals
The California Public Utilities Commission (CPUC) approved new water and electric rates, which contributed to the increased earnings and revenue for the quarter.
Infrastructure Investment
Regulated utilities are on pace to invest between $170 million to $210 million in infrastructure in 2025, maintaining strong growth in rate base.
Strong Credit Ratings
American States Water maintains a credit rating of A stable with S&P, while Golden State Water holds A+ Stable ratings with S&P and A2 Stable with Moody's.
Dividend Growth
The quarterly dividend rate has grown at a compound annual growth rate of 8.8% over the last five years, exceeding the company's policy goal of more than 7% growth.