Essential Utilities — May 12, 2025 release

Operations and maintenance expenses for Essential’s regulated natural gas segment increased to $55.7 million for the first quarter of 2025 compared to $45.9 million in the first quarter of 2024 primarily due to an increase in customer assistance surcharge costs which has an equivalent offsetting amount in revenues; and increases in labor and employee benefits and increase in legal expenses, offset by a decrease in materials and supplies   Dividend   As previously announced on February 19, 2025, Essential’s board of directors declared a quarterly cash dividend of $0.3255 per share of common stock. This dividend will be payable on June 2, 2025, to shareholders of record on May 13, 2025. The company has paid a consecutive quarterly cash dividend for more than 80 years.   Financing   As of March 31, 2025, Essential’s weighted average cost of fixed-rate long-term debt was 4.02%, and the company had $728 million available on its credit lines. On August 13, 2024, Essential established an at-the-market equity sales program (“ATM”), under which it may issue and sell shares of common stock up to an aggregate offering price of $1.0 billion. During the three months ended March 31, 2025, we issued 1,627,009 shares of common stock for net proceeds of approximately $63 million. In April 2025, we issued 3,664,762 common shares for net proceeds of approximately $145 million.   On March 19, 2025, the Company established a commercial paper program that allows it to issue, through private placement, short-term unsecured commercial paper notes in an aggregate principal amount not to exceed $1.0 billion. This program, which is backstopped by the Company’s revolving credit facility, will allow the company to reduce short-term borrowing costs associated with investing in nee