Consolidated Water Increases Dividend and Declares Fourth Quarter Cash Dividend of $0.095 per Share

Rhea-AI Summary

Consolidated Water Co. Ltd. increases quarterly cash dividend by 11.8% to $0.095 per share for Q4 2023. Revenue increases 110% to $44.2 million in Q2 2023, driving EPS to $0.47.

Positive

• Increase in quarterly cash dividend by 11.8% to $0.095 per share for Q4 2023
• 110% increase in revenue to $44.2 million in Q2 2023

Negative

• None.

GEORGE TOWN, Cayman Islands, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Consolidated Water Co. Ltd. (NASDAQ Global Select Market: CWCO), a leading developer and operator of advanced water supply and treatment plants, has increased its quarterly cash dividend and declared a dividend of $0.095 per share for the fourth quarter of 2023.

This fourth quarter dividend represents an increase of 11.8% from the third quarter 2023 dividend of $0.085 per share.

The cash dividend is payable on October 31, 2023 to shareholders of record at the close of business on October 2, 2023.

“Our strong growth across all four of our business segments has resulted in increased profitability and cash flow,” stated Consolidated Water president and CEO, Rick McTaggart. “This performance and positive outlook supported our board of directors’ decision to increase our quarterly dividend for our stockholders.”

The company also recently reported a 110% increase in revenue to $44.2 million in the second quarter of 2023, with this driving an increase of EPS to $0.47.

About Consolidated Water Co. Ltd.
Consolidated Water Co. Ltd. develops and operates advanced water supply and treatment plants and water distribution systems. The company designs, builds and operates seawater desalination facilities in the Cayman Islands, The Bahamas and the British Virgin Islands, and designs, builds and operates water treatment and reuse facilities in the United States. The company recently entered the U.S. desalination market with a contract to design, build, operate and maintain a seawater desalination plant in Hawaii.

The company also manufactures and services a wide range of products and provides design, engineering, management, operating and other services applicable to commercial and municipal water production, supply and treatment, and industrial water and wastewater treatment. For more information, visit www.cwco.com.

Company Contact:
David W. Sasnett
Executive Vice President and CFO
Tel (954) 509-8200
Email Contact

Investor Relations Contact
Ron Both or Grant Stude
CMA Investor Relations
Tel (949) 432-7566
Email Contact

Media Contact:
Tim Randall
CMA Media Relations
Tel (949) 432-7572
Email Contact