Water and wastewater utility holding company Aqua America serves the states of Illinois, Indiana, New Jersey, North Carolina and Ohio, as well as Pennsylvania, Texas and Virginia. With about 3 million customers, the company provides drinking water, wastewater treatment facilities and related services.
Listed on the New York Stock Exchange under the ticker symbol WTR, Aqua America has grown rapidly by acquiring close to 300 smaller utility companies since 1993, a business model it plans to continue because it positively impacts profitability and has allowed the company to pay its shareholders increasing quarterly dividends since 1997. Aqua Pennsylvania is the company's largest subsidiary, serving the greater Philadelphia area, which accounts for more than 50% of Aqua America's customer base. Non-utility subsidiary Aqua Resources provides non-regulated services such as operations contracts, liquid waste hauling, and water and wastewater infrastructure maintenance. In partnerships with Penn Virginia, the company's subsidiaries supply water to hydraulic fracking operations at the Marcellus Shale.
Founded in 1886 as the Springfield Water Company, the company became the Philadelphia Suburban Water Company and provided drinking water to 58 municipalities by 1925. It incorporated as Aqua America, Inc. in 1989 and is based in Byrn Mawr, Pennsylvania. Net income as of 2014 was $233 million on operating revenues of nearly $780 million.