Frequently Asked Questions
What services does Cal Water provide?
California Water Service Group ("the Company" or "Group") provides a range of regulated and non-regulated water and wastewater utility services to nearly 2 million people in California, Washington, New Mexico, and Hawaii through its six subsidiaries: California Water Service Company ("Cal Water"), New Mexico Water Service Company ("New Mexico Water"), Washington Water Service Company ("Washington Water"), Hawaii Water Service Company ("Hawaii Water"), CWS Utility Services ("CWSUS"), and HWS Utility Services ("HWSUS"). The Company operates its own regulated water and wastewater systems serving nearly 500,000 customers, and provides non-regulated water and wastewater services to other companies, municipalities, and agencies. In all regulated and non-regulated operations, employees are focused on providing high-quality water and excellent customer service.
Where are the Company's operations?
Headquartered in San Jose, California, the Company provides regulated and non-regulated water and wastewater service in more than 100 communities. The Company's largest subsidiary, California Water Service Company, has 25 districts throughout California ranging from Chico in the north to the Palos Verdes Peninsula in the south. Washington Water Service Company operates two districts: one near Olympia and the other near Tacoma. New Mexico Water Service Company is located in Belen, Los Lunas, and Elephant Butte, New Mexico, which is south of Albuquerque. Hawaii Water Service Company has offices in Ka'anapali on Maui and Waikoloa on the Big Island. CWS Utility Services and HWS Utility Services provide non-regulated contract water and wastewater utility services in California and Hawaii.
What percentage of Cal Water's business is regulated by State Utilities Commissions?
About 95%. The Company has regulated operations in California, New Mexico, Washington, and Hawaii.
Does the Company have a strategy for improving its service and efficiency?
Yes. Group's subsidiaries use a tool called Continuous Improvement. Through Continuous Improvement, every employee devotes at least one hour per week to working as a team member on projects to increase efficiency or improve customer service. The Company also has a cross-functional team that measures customer satisfaction and initiates programs to increase satisfaction levels. The Company is very focused on providing excellent customer service.
Does Group have a Dividend Reinvestment Program (DRIP)?
Yes. The Company has a Dividend Reinvestment and Stock Purchase Plan (Plan). The Plan allows stockholders to reinvest common stock dividends to purchase additional Company stock; it also enables existing and new stockholders to purchase common stock without using a broker by going through the Company's transfer agent, American Stock Transfer & Trust Company . For information on the program, contact Investor Relations at (408) 367-8200 or (800) 750-8200.
Does Group pay dividends?
Yes. The Company has a long history of paying dividends, having paid a dividend every year since 1945 and increasing the dividend every year since 1967.
When are the dividends paid?
After reviewing and considering the Company's financial results, the Board of Directors declares the dividends at the end of each quarter. For 2009, the expected dividend payment schedule is:
|Quarter||Declaration||Record Date||Payment Date|
|First||January 28||February 9||February 20|
|Second||April 22||May 4||May 15|
|Third||July 29||August 10||August 21|
|Fourth||October 28||November 9||November 20|
When has Group's stock split?
The most recent stock splits, each two-for-one, occurred in 1984, 1987 and 1997.
Does the Company have plans to expand its operations?
The Company actively works to expand its operations through a disciplined growth strategy and pursues opportunities that add stockholder value. Since 1999, the Company has established a presence in three new states (Washington, New Mexico, and Hawaii).
What criteria does the Company use in considering acquisitions?
Cal Water takes a disciplined approach to growth. A due diligence review team, which represents various water business disciplines, considers many factors, including whether the acquisition would be accretive and whether the system is close to an existing operation or of sufficient size to make sense as a stand-alone operation. It also considers the condition of the system infrastructure, water quality, staffing requirements, rates, potential for future customer growth, and water supply.
What year was the Company incorporated and in what state?
California Water Service Company was incorporated in 1926 in the state of California. In 1997, the Company adopted a holding company structure under which California Water Service Company became a subsidiary of California Water Service Group. California Water Service Group is incorporated in Delaware.
What type of accounting does Group use?
The Company maintains its accounting records in accordance with accounting principles generally accepted in the United States and as directed by the regulatory commissions to which the Company's operations are subject.
How can I obtain a copy of the Company's annual report or proxy?
Contact the Company's Investor Relations Department at (408) 367-8200 or (800) 750-8200 or e-mail your request to firstname.lastname@example.org.
Are the Company's Securities and Exchange Company (SEC) filings available?
Yes. You can obtain copies of SEC filings by contacting the Company's Investor Relations Department at (408) 367-8200 or (800) 750-8200, or by sending an e-mail to email@example.com. The filings can also be viewed online through this web site from our SEC Filings page.
How many shares are outstanding?
The Company has 20.83 million shares of common stock outstanding, which are traded on the New York Stock Exchange under the symbol "CWT."
When do fiscal quarters end?
The Company operates on a calendar year basis, with quarters ending on March 31, June 30, September 30, and December 31.
When is the annual meeting of stockholders?
The 2012 annual meeting is scheduled for Tuesday, May 22, 2012, at 9:30 a.m., at the executive offices located at 1720 North First Street in San Jose, California.
How many employees does Group have?
As of December 2010, there were 1,127 employees.
Who is the Company's outside legal counsel?
Gibson, Dunn & Crutcher in Palo Alto.
Who are its independent auditors?
Deloitte & Touche, L.L.P.
How do I transfer ownership of my stock?
To transfer stock, the owner must complete the assignment on the back of the certificate and sign it exactly as his or her name appears on the front. This signature must be guaranteed by an eligible guarantor institution (banks, stock brokers, savings and loan associations, and credit unions with membership in approved signature medallion programs) pursuant to SEC Rule 17Ad-15. A notary's acknowledgement is not acceptable. This certificate should then be sent to American Stock Transfer & Trust Company by registered or certified mail with complete transfer instructions. American Stock Transfer & Trust Company may be reached at 59 Maiden Lane, New York, NY 10038-4502, or by phone at (800) 937-5449.
My legal name has changed. Do I need to re-register my stock?
Yes. If your name has legally changed, you must fill out a Request to Transfer Stock form. Please contact the Company at (408) 367-8200 or (800) 750-8200 to request the form.
As the representative for a deceased stockholder, how do I transfer stock?
To transfer a deceased stockholder's shares, you must fill out a Request to Transfer Stock form. The Executor(s) or Administrator(s) must fill out the form in the deceased person's legal capacity. You will need to include the following with the transfer form:
- a court certified copy of the appointment of the decedent's legal representative dated sixty days of the date of the transfer; and
- an affidavit of residence/inheritance tax waiver (if applicable under state law).
In the event an estate is not required to go through probate, the transfer form must be endorsed by the legal heir(s) of the deceased owner's estate, and the following must be included with the form:
- an official certificate (Small Estate Affidavit), stating the decedent's legal heir(s), with signature(s) notarized or certified by the probate court within sixty days of the date of the transfer (check with the probate court for more information); and
- a certified copy of the decedent's death certificate.
Do you offer direct registration for stockholders?
Yes. More information on the direct registration system is available online.