Investor
Info 2003
For
Immediate Release:
March 10, 2003
Contact:
Maurice L. Arel, President and Chief Executive Officer
Charles J. Staab, VP, Treasurer and Chief Financial Officer
Phone: 603-882-5191
Fax: 603-882-4125
Pennichuck
Corporation Announces
Increase in Second Quarter 2003 Common Dividend
Maurice
L. Arel, President and Chief Executive Officer of Pennichuck Corporation,
announced today that the Company's Board of Directors recently declared
a quarterly dividend of $.215 per share payable on June 2, 2003 to shareholders
of record as of May 15, 2003. This quarterly dividend represents a $.02
per share increase, or 10.3%, from the previous quarter resulting in an
annualized dividend rate of $.86 per share. Mr. Arel also noted that the
Company’s next dividend reinvestment date under the Company’s Common Stock
Purchase and Dividend Reinvestment Plan is June 2, 2003. Shareholders
wishing to purchase additional shares under that plan should ensure that
their payment is received by the Company’s transfer agent no later than
May 27, 2003.
Pennichuck
Corporation, a New Hampshire corporation, is a holding company whose
operating subsidiaries are involved in diversified activities such as
water supply and distribution, operations and maintenance contracts,
laboratory testing and real estate development and management. Pennichuck
is traded on the Nasdaq National Market System under the symbol “PNNW”.
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