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Conn. Water Stock Split
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Business New Haven
9/4/2001
By: BNH
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CLINTON - Connecticut Water Service Inc. (NASDAQ: CTWS) reported increased second-quarter earnings and its directors voted to proceed with a three-for-two split of the company's outstanding shares and increase the quarterly dividend before the split.
Citing increased profits from the company's Linebacker service line-maintenance program, Connecticut Water said second quarter net income applicable to common shareholders rose to $1.914 million from $1.876 million a year earlier. That was equal to 37 cents per diluted share in both years due to increased shares outstanding this year.
The split, to be paid in the form of a 33.3-percent stock dividend, will be paid September 7 to shareholders of record on August 27.
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