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Investor Info 2007 For
Immediate Release: Contact:
William D. Patterson, Senior Vice President, Treasurer and Chief
Financial Officer Pennichuck
Corporation Announces First Quarter 2007 MERRIMACK, NH (January 29, 2007) - Duane C. Montopoli, President and Chief Executive Officer of Pennichuck Corporation (NASDAQ: PNNW), today announced that the Company's Board of Directors declared a quarterly dividend of $0.165 per share payable on March 1, 2007 to shareholders of record as of February 15, 2007. This quarterly dividend remains unchanged from the previous quarter and results in an annualized dividend rate of $0.66 per share. Mr. Montopoli also noted that the Company's next dividend reinvestment date under its Dividend Reinvestment and Common Stock Purchase Plan is March 1, 2007. Shareholders wishing to purchase additional shares under that plan should ensure that their payment is received by the Company's transfer agent (American Stock Transfer & Trust Company) no later than February 26, 2007. Additional information about the Company's Dividend Reinvestment and Common Stock Purchase Plan is contained in the Plan prospectus which is available upon request from American Stock Transfer & Trust Company or online at www.amstock.com. Pennichuck Corporation is a holding company involved principally in the supply and distribution of potable water in southern and central New Hampshire through its three regulated water utilities. Its non-regulated water-related activities include operations and maintenance contracts with municipalities and private entities in New Hampshire and Massachusetts. The Company's real estate operations are involved in the ownership, management and development of real estate in the greater Nashua, New Hampshire area. Pennichuck Corporation's common stock trades on the Nasdaq Stock Exchange under the symbol "PNNW". The Company's website is at www.pennichuck.com. This news
release may contain certain forward-looking statements with respect
to the financial condition, results of operations and business of Pennichuck
Corporation. Forward-looking statements are based on current information
and expectations available to management at the time the statements
are made, and are subject to various factors, risks and uncertainties
that could cause actual results to differ materially from those expressed
or implied by such forward-looking statements. These factors include,
but are not limited to, timing and results of eminent domain proceedings
before the NPUC, and the impact thereof on consolidated business operations;
timing and amount of regulated water utility rate relief; changes in
general economic conditions, legislation or regulation and accounting
factors affecting Pennichuck Corporation's financial condition and results
of operations; and the impact of weather. Investors are encouraged to
access Pennichuck Corporation's annual and quarterly periodic reports
filed with the Securities and Exchange Commission for financial and
business information regarding Pennichuck Corporation, including a more
detailed discussion of these and other risks and uncertainties that
could affect Pennichuck Corporation's forward-looking statements.
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