Drought not drying up investor appetite for American States Water
One might think a severe drought would be bad news for a company whose main business is supplying water to residential and business customers. But — so far, at least — that hasn’t been the case for San Dimas-based American States Water Co., parent company of Golden State Water, a utility that provides water to customers in the Los Angeles basin and Central California. In fact, quite the opposite: Investors have sent American States Water share prices soaring to $96 as of Nov. 19, the highest level in more than five years.