SAN JOSE, Calif.--(BUSINESS WIRE)--SJW Group (NYSE: SJW) today announced that the Board of Directors approved an increase in the 2018 annual dividend over total dividends paid in 2017 of 7.7% or $0.08 per share to $1.12 per share. A quarterly dividend of $0.28 per share is payable on March 1, 2018, to shareholders of record at the close of business on February 12, 2018.
“We are pleased that our commitment to delivering exceptional quality water and service to customers and communities has again allowed us to provide a fair return to our shareholders. Investing in sustainable infrastructure also protects and enhances drinking water service and the environment,” said Eric W. Thornburg, President and Chief Executive Officer.
Dividends have been paid on SJW Group’s and its predecessor’s common stock for 297 consecutive quarters and the annual dividend amount has increased in each of the last 50 years.
SJW Group will release its 2017 full-year and fourth quarter financial results after the close of the market on February 21, 2018. Mr. Thornburg and James P. Lynch, Chief Financial Officer and Treasurer, will review the results in a webcast presentation at 10:00 A.M. (PT) on February 22, 2018.
Interested parties may access the webcast and related presentation materials at the web site www.sjwgroup.com. An archive of the webcast will be available until April 23, 2018.
SJW Group is a publicly traded holding company headquartered in San Jose, California. SJW Group is the parent company of San Jose Water Company, SJWTX, Inc., and SJW Land Company. Together, San Jose Water Company and SJWTX, Inc. provide water service to more than one million people in San Jose, California and nearby communities and in Canyon Lake, Texas and nearby communities. SJW Land Company owns and operates commercial real estate investments.
This press release may contain certain forward-looking statements including, but not limited to, statements relating to SJW Group's plans, strategies, objectives, expectations and intentions, which are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of SJW Group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Results for a quarter are not indicative of results for a full-year due to seasonality and other factors. Other factors that may cause actual results, performance or achievements to materially differ are described in SJW Group's most recent reports on Form 10-K, Form 10-Q and Form 8-K filed with the Securities and Exchange Commission. SJW Group undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.