Best Income Stocks To Own For 2014: California Water Service Group (CWT)
California Water Service Group, incorporated on August 2, 1999, is a holding company. The Company operates California Water Service Company (Cal Water), New Mexico Water Service Company (New Mexico Water), Washington Water Service Company (Washington Water), Hawaii Water Service Company, Inc. (Hawaii Water), and CWS Utility Services and HWS Utility Services LLC are collectively called Utility Services. Cal Water, New Mexico Water, Washington Water, and Hawaii Water are regulated public utilities. Utility Services provides non-regulated services to private companies and municipalities. The Company's business is conducted through its operating subsidiaries. Its bulk business consists of the production, purchase, storage, treatment, testing, distribution and sale of water for domestic, industrial, public and irrigation uses, and for fire protection. It also provides non-regulated water-related services under agreements with municipalities and other private companies. The no n-regulated services include full water system operation, billing and meter reading services. Non-regulated operations also include the lease of communication antenna sites, lab services, and promotion of other non-regulated services.
California water operations are conducted by the Cal Water and CWS Utility Services entities, which provide service to approximately 473,100 customers in 83 California communities through 25 separate districts. Of these 25 districts, 23 districts are regulated water systems, which are subject to regulation by the California Public Utilities Commission (CPUC). Cal Water operates two leased water systems, the City of Hawthorne and the City of Commerce, which are governed through their respective city councils and are outside of the CPUC's jurisdiction. California water operations account for app! roximately 94% of its total customers and approximately 94% of its total consolidated operating revenue.
Hawaii Water provides service to approximately 4,2! 00 water and wastewater customers on the islands of Maui and Hawaii, including several resorts and condominium complexes. Hawaii's regulated operations are subject to the jurisdiction of the Hawaii Public Utilities Commission. Hawaii Water accounts for less than 1% of its total customers and approximately 3% of its total operating revenue.
Washington Water provides domestic water service to approximately 15,800 customers in the Tacoma and Olympia areas. Washington Water's utility operations are regulated by the Washington Utilities and Transportation Commission. Washington Water accounts for approximately 3% of its total customers and approximately 2% of its total consolidated operating revenue.
New Mexico Water provides service to approximately 7,600 water and wastewater customers in the Belen, Los Lunas and Elephant Butte areas in New Mexico. New Mexico's regulated operations are subject to the jurisdiction of the New Mexico Public Regulation Co mmission. New Mexico Water accounts for approximately 2% of its total customers and approximately 1% of its total consolidated operating revenue.
Non-regulated activities consist primarily of operating water and waste water systems, which are owned by other entities; providing meter reading and billing services; leasing communication antenna sites on its properties; operating recycled water systems; providing lab services for water quality testing; billing of optional third-party insurance program to its residential customers; selling surplus property, and other services as requested by the client. The Company provides operating and maintenance, meter reading and customer billing services for several municipalities in California. It also provides sewer and refuse billing services to several municipalities. The C! ompany le! ases antenna sites to telecommunication companies, which place equipment at various Company-owned sites. T he antennas are used in cellular phone and personal communic! ation app! lications.Advisors' Opinion:
- [By Richard Band]
California Water Service (CWT) is the third-largest publicly traded water utility in the country—and the largest west of the Mississippi River. The company has raised its dividend for 47 years in a row.
- [By Marc Bastow]
Utility holding company California Water (CWT) raised its quarterly dividend 1.5% to 16.25 cents per share, payable on Feb. 21 to shareholders of record as of Feb. 10.
CWT Dividend Yield: 2.78%
source from Top Stocks Blog:http://www.topstocksblog.com/best-income-stocks-to-own-for-2014.html