Fortune Small Business magazine recognized the company in its annual list
Connecticut Water Service, Inc. has announced that it ranked No. 64 in the 2009 FSB 100, Fortune Small Business magazine's annual list of America's fastest-growing small public companies. The FSB 100 list appears in the magazine's July/August issue.
FSB's Justin Martin writes in his opening essay, "In good times, the FSB 100 constitutes an elite group of small public companies: the best of the best... But in this Great Recession, their performance is nothing short of miraculous... All 100 companies on our list have figured out how to succeed no matter what the economic climate."
According to FSB, the FSB 100 companies outperformed the broader stock market by a wide margin. This year's stocks posted an average annual return of 9.8% for the year ended May 31, 2009, compared with an annual loss of 28.6% for the Russell microcap growth index. The ninth-annual FSB 100 includes U.S.-based firms with annual revenues of less than $200 million and a stock price greater than $1. FSB ranks the small-cap companies by stock performance and revenue growth over the past three years.
Connecticut Water's current annual dividend yield is about 4.2%. Connecticut Water has paid dividends on its common stock each quarter since its founding in 1956 without interruption or reduction and has increased dividend payments for each of the last 39 years.
Connecticut Water Service, Inc. is New England's largest locally based, investor-owned water company. Through its wholly owned public water utility subsidiary, The Connecticut Water Co., the company provides drinking water to more than 88,000 customers, or about 300,000 people, in 54 towns throughout Connecticut.