American States Water To Buy Back Up To 1.25 Mln Shares

(RTTNews) - American States Water Co. (AWR) said Thursday that its Board of Directors has approved a stock repurchase program authorizing the company to repurchase up to 1.25 million shares or 3.2% of its outstanding common shares from time to time through June 30, 2016.

The company plans to initiate the repurchase of the common shares through implementation of a Rule 10b5-1 trading plan in May at the earliest.

"This repurchase program is intended to enable the company to achieve a consolidated shareholders' equity ratio that is more reflective of appropriate equity ratios for our two first-tier subsidiaries, Golden State Water Company and American States Utility Services, Inc.," said Robert Sprowls, President and Chief Executive Officer of American States Water.