American Water Works says it has $360 million in annualized rate revenue requests pending, and the same company will pay shareholders a quarterly dividend of 89.5 cents a share on Dec. 1. The figures come from the company’s third-quarter results, released Oct. 28. The utility serves about 14 million people in 14 states and on 19 military installations.
Customers in Missouri, Kentucky, Illinois, Virginia and California are where the five pending general rate cases sit, according to the company’s quarterly filing. The $360 million is a company-wide annual revenue figure, and American Water has not said what any of it would add to a single customer’s bill. Each state’s commission decides how much of its request to grant.
Stay ahead of government payment news: Miss an enrollment or claim deadline and the money can be gone. Join the Retirement Money Brief and we’ll send you our 2026 Government Check Reality Tracker as a welcome gift.
Get the Brief + the check tracker →
We may earn a commission from links on this page.
Which states have rate requests open?
The release says the company has five general rate cases in progress and infrastructure surcharges filed in two jurisdictions. It does not split the $360 million by state, but the filing describes each case. Missouri’s subsidiary asked the Missouri Public Service Commission on July 1 for $179 million in annualized revenue, not counting $32 million in infrastructure surcharges, and expects new rates in June 2027.
In Kentucky, the subsidiary filed May 15 for $18 million a year and intends to put interim rates into effect on Dec. 14. In Illinois, an administrative law judge issued a proposed order on Oct. 23 recommending a 9.67% return on equity and recommending against the subsidiary’s second-step increase. A final order is expected no later than Dec. 18, with new rates on Jan. 1, 2027.
The Virginia and California cases are further along in settlement talks. In Virginia the company reached a $16 million settlement in June that still needs State Corporation Commission approval, with interim rates in effect since May 2 subject to refund. In California, new rates are expected Jan. 1, 2027 once the Public Utilities Commission issues a final decision, and an Oct. 12 decision authorized interim rates if that decision is late.
How much has American Water already won this year?
Since Jan. 1, the company says it has been authorized $284 million in additional annualized revenue. That breaks down as $179 million from general rate cases and $105 million from infrastructure surcharges, the release says.
Pennsylvania’s commission approved $75 million in annualized revenue, excluding $24 million in infrastructure surcharges, in an order released July 27, with rates effective Aug. 13. New Jersey’s Board of Public Utilities approved $68 million on Sept. 9 without modification, effective Sept. 15. West Virginia’s commission approved about $20 million with rates effective March 1, and Maryland’s approved about $2 million, with part effective Jan. 1, 2027.
What do shareholders get on Dec. 1?
The board declared the quarterly dividend of $0.8950 per share on Oct. 27, payable Dec. 1 to shareholders of record on Nov. 12. At that rate the dividend comes to $3.58 a share over a year. The release does not say how it compares with the previous payment, and it does not announce an increase.
Third-quarter adjusted earnings were $2.00 a share, up from $1.89 a year earlier, on operating revenue of $1.51 billion against $1.45 billion. Earnings under standard accounting rules were $1.94 a share in both quarters. The company narrowed its 2026 adjusted earnings guidance to $6.07 to $6.12 a share and says its planned merger with Essential Utilities is expected to close by the end of the first quarter of 2027.
John Griffith, American Water’s president and CEO, said in the release that “we are fully confident that our long record of consistent execution on the plans we set will continue.” The company’s long-term targets, unchanged, call for dividend growth of 7% to 9% a year.
Is a water or sewer increase headed for your bill in one of these five states?
Rate cases in Missouri, Kentucky, Illinois, Virginia and California are still open, and Kentucky’s interim rates begin Dec. 14 subject to refund. American Water has not said what the requests would mean for a typical bill, so the first sign is often the next statement.
The Senior Property Tax & Home-Cost Relief Kit is a 64-page guide for older homeowners that includes heating, cooling and home-repair help and an application log and renewal calendar. The kit’s focus is the wider job of keeping home bills in check, and its Part 5, Utilities and Home Costs, covers the bills that rate cases move.
See the utility-bill help guide and renewal calendar for rising home bills →
This article was produced with AI assistance and edited for accuracy against the sources linked above.
Warren Cohen is a finance writer based in Phoenix, Arizona, covering personal finance topics including credit, banking, and beginner investing. He earned his degree in business administration from Arizona State University and began his career working in consumer finance, where he gained direct experience with lending and credit systems. He now writes for personal finance websites and fintech platforms, focusing on clear, practical content that helps readers make informed financial decisions.
