American States Water Company (AWR) announced that its Board has approved a 14.1% increase in its third quarter cash dividend to $0.405. The Board also approved a two-for-one stock split of the company's common stock.
The company said dividends on the common shares will be payable on September 3, 2013 to shareholders of record at the close of business on August 15, 2013. The increased September 3, 2013 dividend will be applied to the shares prior to the stock split.
Shareholders of record at the close of business on August 15, 2013 will receive one additional share of AWR stock for each share they own. These additional shares will also be payable on September 3, 2013 to shareholders of record on August 15, 2013. As a result of the stock split, the total number of common shares outstanding will increase to approximately 38.6 million from approximately 19.3 million.
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