California Water Service Group Contributes More Than $600,000 to Local Charitable Organizations in 2015
SAN JOSE, CA -- (Marketwired) -- 01/07/16 -- Committed to supporting local communities and improving the quality of life in the areas it serves, California Water Service Group (Group) (NYSE: CWT) donated more than $600,000 in 2015 to charitable organizations in its California, Washington, Hawaii, and New Mexico service areas. The 2015 donations exceeded the prior year's corporate giving by more than $50,000, making the year one of the most charitable in company history.
As a regulated utility, the company makes these contributions from stockholder funds and is part of the Group's corporate philanthropic program. The financial gifts do not come from customer rates.
Among its donations, the Group provided $60,000 in college scholarships to 22 students in the areas it serves. It also supported a variety of local non-profits that enhance quality of life in its communities, such as the Bethlehem Center in Visalia, the Mission at Kern County in Bakersfield, and the Lucerne Alpine Senior Center.
California Water Service (Cal Water), the Group's largest subsidiary, contributed $10,000 to help the Food Bank of Monterey County rebuild after a devastating fire and $11,000, including matching employee contributions, to the Red Cross Fire Relief Fund, after wildfires destroyed and threatened thousands of homes and businesses in northern California.
Cal Water also donated $198,000 to local charitable organizations over Thanksgiving as part of the company's annual Operation Gobble program to help provide holiday meals and assistance to residents in need.
Hawaii Water Service Company continued its commitment to the Maui Food Bank and the Food Basket, while New Mexico Water Service Company donated to the Adelante Development Center and Washington Water Service Company supported the Peninsula Community Foundation.
"Doing the right thing and giving back to the areas we serve is a cornerstone of California Water Service Group's values," Kropelnicki said. "We are committed to investing in our communities by assisting young people finance an education and obtain their dreams for the future; helping families and charities rebuild after a disaster; and alleviating some of the financial burden so non-profits can continue to provide life-changing services for those in need, year after year."
As California Water Service Group enters 2016, the company plans to continue its outreach efforts and develop additional programs to benefit customers in the areas it serves.
California Water Service Group is the parent company of California Water Service, Washington Water Service Company, New Mexico Water Service Company, Hawaii Water Service Company, Inc., CWS Utility Services, and HWS Utility Services. Together, these companies provide regulated and non-regulated water service to approximately 2 million people in more than 100 California, Washington, New Mexico, and Hawaii communities. Group's common stock trades on the New York Stock Exchange under the symbol "CWT." Additional information is available at our web site at www.calwatergroup.com.
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 would, 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; changes in accounting valuations and estimates; changes in accounting treatment for regulated companies, including adoption of International Financial Reporting Standards, if required; 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; litigation that may result in damages or costs not recoverable from third parties; 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 and climate 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; our ability to attract and retain qualified employees; labor relations matters as we negotiate with the unions; federal health care law changes that could result in increases to Company health care costs and additional income tax expenses in future years; changes in federal and state income tax regulations and treatment of such by regulatory commissions; implementation of new information technology systems; changes in operations that result in an impairment to acquisition goodwill; 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; general economic conditions, including changes in customer growth patterns and our ability to collect billed revenue from customers; 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.
Released January 7, 2016