Key Developments For Southwest Water Company
Southwest Water Company (SWWC.O) (Nasdaq)
Southwest Water Company Announces Management Change
Southwest Water Company announced that its Board of Directors elected H. Fredrick Christie as the new independent Chairman of the Board. The Board also appointed Chief Executive Officer, Mark A. Swatek, as President and David B. Stanton was appointed Chief Financial Officer. Stanton had been serving as the interim Chief Financial Officer since April 2009.
Southwest Water Company Doubles Cash Dividend On Common Stock
Southwest Water Company announced that its Board of Directors has raised the Company's quarterly cash dividend on its common stock to $0.05 per share from $0.025 per share, representing a 100% increase. The Company also announced that its Board also declared a quarterly cash dividend of $0.65625 per share on the company's Series A preferred stock. Both dividends will be paid November 20, 2009, to stockholders of record on November 4, 2009.
Southwest Water Company Awarded 10-Year Services Contract Renewal With Horizon Regional Municipal Utility District
Southwest Water Company announced a 10-year contract renewal with its long-term client Horizon Regional Municipal Utility District (HRMUD) in Horizon City, Texas. Under the new contract, SouthWest Water will continue to operate and maintain HRMUD`s water and wastewater systems and manage its meter reading, billing and collections.
Southwest Water Company Receives Nasdaq Notice Letter
Southwest Water Company announced that on August 11, 2009, it received a Nasdaq Staff Deficiency Letter indicating an additional basis for delisting of the Company's securities from the Nasdaq Stock Market as a result of non-compliance with Nasdaq Marketplace Rule 5250(c)(1), due to the delayed filing of the Quarterly Report on Form 10-Q for the quarter ended June 30, 2009. The letter indicated that the Company had until August 18, 2009 to present its views with respect to this additional deficiency to the Nasdaq Hearing Panel.
Southwest Water Company Declares Cash Dividends
Southwest Water Company announced that it has declared quarterly cash dividends of $0.025 per share of common stock and $0.65625 per share of Series A preferred stock. The dividends are payable on August 12, 2009 to stockholders of record as of July 27, 2009.
