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Aqua America reports drop in net income but 7.4% dividend increase for Q3

Posted on: Wed, 04 Nov 2009 04:32:00 EST

Symbols: WTR

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Nov 04, 2009 (M2 EQUITYBITES via COMTEX) --
WTR | Quote | Chart | News | PowerRating -- Water and wastewater utility holding company Aqua America Inc
(NYSE:WTR) on Tuesday reported net income of USD33.5m or USD0.25
diluted earnings per share for the quarter ended 30 September 2009,
compared to USD35.4m or USD0.26 in the same quarter last year.

Aqua America said that the wet weather in the third quarter of 2009
resulted in an approximate USD0.03 reduction in basic and diluted
earnings per share. In the third quarter of 2008 the company's results
were positively affected by a USD0.02 per share gain from a utility
system sale under the company's strategy to evaluate and sell
under-performing operations.

Revenues for the third quarter totalled USD180.8m, up 2.1% from
revenues of USD177.1m in the corresponding period in 2008.

The board of directors has declared a dividend of USD0.145 per share
for the quarter, reflecting a 7.4% increase or USD0.01 per share from
the previous USD0.135 per share. The new dividend will be paid on 1
December 2009 to all shareholders of record on 16 November 2009.

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For full details on Aqua America Inc (WTR) WTR. Aqua America Inc (WTR) has Short Term PowerRatings at TradingMarkets. Details on Aqua America Inc (WTR) Short Term PowerRatings is available at This Link.

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