Exhibit 99.1
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NEWS RELEASE |
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CALIFORNIA WATER SERVICE GROUP |
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1720 North First Street
San Jose, CA 95112-4598
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April 25, 2007
For Immediate Release |
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Marty Kropelnicki (408) 367-8200 (analysts)
Shannon Dean (310) 257-1435 (media) |
CAL WATER DECLARES 250th CONSECUTIVE QUARTERLY DIVIDEND
AND REPORTS RESULTS OF ANNUAL MEETING
SAN JOSE, CA — At their meeting today, the Directors of California Water Service Group (NYSE :
CWT) declared the Company’s 250th consecutive quarterly dividend on common stock. The
quarterly dividend of $0.2900 will be payable on May 18, 2007, to stockholders of record on May 7,
2007. The Board also declared a regular dividend on Series C preferred stock.
At their Annual Meeting, stockholders re-elected incumbent board members and ratified the
selection of KPMG as the Company’s registered independent auditors.
Additionally, the Directors passed a resolution honoring the distinguished service of Robert
W. Foy, who retired as an employee, as required by the company’s bylaws. Mr. Foy will continue in
his capacity as Chairman of the Board.
California Water Service Group is the parent company of California Water Service Company,
Washington Water Service Company, New Mexico Water Service Company, Hawaii Water Service Company,
Inc., and CWS Utility Services. Together these companies provide regulated and non-regulated water
service to more than 2 million people in 100 California, Washington, New Mexico, and Hawaii
communities. Group’s common stock trades on the New York Stock Exchange under the symbol “CWT”.
This news release contains forward-looking statements within the meaning established by the
Private Securities Litigation Reform Act of 1995 (“Act”). The forward-looking statements
are intended to qualify under provisions of the federal securities laws for “safe harbor” treatment
established by the Act. Forward-looking statements are based on currently available information,
expectations, estimates, assumptions and projections, and management’s judgment about the Company,
the water utility industry and general economic conditions. Such words as expects, intends, plans,
believes, estimates, assumes, anticipates, projects, predicts, forecasts or variations of such
words or similar expressions are intended to identify forward-looking statements. The
forward-looking statements are not guarantees of future performance. They are subject to
uncertainty and changes in circumstances. Actual results may vary materially from what is
contained in a forward-looking statement. Factors that may cause a result different than expected
or anticipated include, but are not limited to: governmental and regulatory commissions’
decisions; changes in regulatory commissions’ policies and procedures; the timeliness of regulatory
commissions’ actions concerning rate relief; new legislation; electric power interruptions;
increases in suppliers’ prices and the availability of supplies including water and power;
fluctuations in interest rates; changes in environmental compliance and water quality requirements;
acquisitions and our ability to successfully integrate acquired companies; the ability to
successfully implement business plans; changes in customer water use patterns; the impact of
weather on water sales and operating results; access to sufficient capital on satisfactory terms;
civil disturbances or terrorist threats or acts, or apprehension about the possible future
occurrences of acts of this type; the involvement of the United States in war or other hostilities;
restrictive covenants in or changes to the credit ratings on our current or future debt that could
increase our financing costs or affect our ability to borrow, make payments on debt or pay
dividends; and, other risks and unforeseen events. When considering forward-looking statements,
you should keep in mind the cautionary statements included in this paragraph, as well as the annual
10-K, Quarterly 10-Q, and other reports filed from time-to-time with the Securities and Exchange
Commission (SEC). The Company assumes no obligation to provide public updates of forward-looking
statements.
Additional information is available at our Web site at www.calwatergroup.com.
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