Pennichuck Corporation (NASDAQ: PNNW) recently announced that the Company's Board of Directors declared a quarterly dividend of $0.175 per share payable on December 1, 2009 to shareholders of record as of November 16, 2009. This quarterly dividend remains unchanged from the previous quarter and results in an annualized dividend rate of $0.70 per share.
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Duane C. Montopoli, President and Chief Executive Officer of Pennichuck Corporation, pointed out that the Company's next dividend reinvestment date under its Dividend Reinvestment and Common Stock Purchase Plan is December 1, 2009. 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 November 27, 2009. 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. Pennichuck Corporation is a holding company involved principally in the supply and distribution of potable water in 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 commercialization of real estate in southern New Hampshire.
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