California Updates & ESG Initiatives
Key Investment Highlights
Growth Capital and
Customers
•
.
Invested $272M in water/wastewater infrastructure in 2023
Announced $230M CapEx estimate for per- and polyfluoroalkyl substances (PFAS) remediation, subject to regulatory approval
Texas customer base quadrupled between 2006 and 2022, operations in three of the five fastest-growing counties in the
U.S., and in 2023 outstanding development units (potential connections) increased 47%.
Geographic and
Regulatory Diversity
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•
Diversity of operations in four-state regulatory and weather environments that help balance risk
Achieved constructive regulatory outcome in California Cost of Capital proceeding that provides for return on equity
increases, including maintained use of the Water Cost of Capital Mechanism
System improvement charge in Texas, and general rate cases and infrastructure investment surcharges in Connecticut
and Maine
Commitment to ESG
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Strong Dividend
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Progress in carbon emissions reduction - science-based target to reduce Scope 1 and 2 carbon emissions 50% by 2030
Fostering environmental stewardship – nonrevenue water performance at 10.4% in 2023
Recognized for excellence in supplier diversity - $63M, or 21%, of addressable spend in 2023 support supplier responsibility
through Vendor Code of Conduct, and committed to diversity, equity and inclusion
Track Record
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Dividend growth exceeding 6% over the past five years
Paid a dividend for 80 consecutive years, with increases in the past 56 consecutive years
SJW Group
LO
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