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November 19, 2013

CT Water approves $46M capital plan

Connecticut Water Co.'s Chester Reservoir.

The Connecticut Water Service, Inc. has approved an overall $45.6 million capital spending plan for 2014.

The plan includes $37.8 million for the Connecticut Water Co. to replace a pipeline and make other upgrades for the 300,000 people it serves in Connecticut.

The remaining $7.8 million includes pipeline and infrastructure replacement for the company’s operations in Maine, which will include 100,000 people once its acquisition of the Biddeford & Saco Water Co. is approved at the end of the year.

The water company also announced a quarterly dividend of  24.75 cents per common share payable on Dec. 16 to shareholders of record as of Dec. 2.

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