BRYN MAWR, Pa.--(BUSINESS WIRE)--
Aqua America, Inc. (NYSE: WTR) Chairman Nicholas DeBenedictis said that
Aqua America's substantial and consistent investment in water and
wastewater infrastructure coupled with the inherent environmental nature
of its operations is directly responsible for the company's
sustainability, the success of which is being celebrated this year as
the company celebrates its 125th anniversary. The comments
were made late yesterday afternoon during a presentation DeBenedictis
made at the Janney Montgomery Scott Water Industry Summit in New York
City
"God continues to give us the water for free, but has left the cost of
laying the pipe and building the treatment facilities to us," said
DeBenedictis. "Our company was founded in 1886 when our
predecessors—driven by concerns for the environment and public
health—assumed that responsibility, building a treatment plant to clean
the water for drinking and laying the pipes to deliver it to homes and
businesses."
Aqua America is celebrating its 125th year of operations this
year. DeBenedictis credits much of the company's sustainability with its
capital program, which was nearly $1.4 billion over the last five years
(2006 — 2010). "We've been able to maintain our capital program, which
currently hovers around $300 million, by taking advantage of
low-interest financing available to the company as a result of its
strong balance sheet and credit rating. Aqua Pennsylvania, our largest
subsidiary, enjoys an A+ credit rating from Standard & Poor's," said
DeBenedictis.
One of the benefits our shareholders have enjoyed as a result of our
sound financial management is our dividend, which has been sustained
consecutively for 65 years. Aqua America has been recognized
consistently as a Mergent dividend achiever. Mergent annually recognizes
companies for increasing their dividend for 10 or more consecutive
years. Aqua America has increased its dividend 20 times in the last 19
years, and over the past 10 years has increased the dividend an average
of over seven percent annually.
DeBenedictis said he fully expects Aqua America to provide services to a
continuously growing number of customers well into the future. "We
understand that a key component to our sustainability is our capital
investment program that has allowed us to continue to provide quality
drinking water and reliable service to an increasing number of customers
over the past century."
Aqua America is planning an update to its current sustainability report,
which can be found on its web site: www.aquaamerica.com.
Aqua America, Inc. is a publicly traded water and wastewater utility
holding company with operating subsidiaries serving approximately three
million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas,
New Jersey, New York, Indiana, Florida, Virginia, Maine, Missouri, and
Georgia. Aqua America is listed on the New York Stock Exchange under the
ticker symbol WTR.
WTRF
Aqua America, Inc.
Donna Alston, 610-645-1095
Director,
Communications
dpalston@aquaamerica.com
or
Brian
Dingerdissen, 610-645-1191
Director, Investor Relations
bjdingerdissen@aquaamerica.com
Source: Aqua America, Inc.
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