Consolidated Water Increases Dividend and Declares Fourth Quarter Cash Dividend of $0.11 per Share
Rhea-AI Summary
Consolidated Water Co. (NASDAQ: CWCO), a leading designer, builder and operator of advanced water supply and treatment plants, has increased its quarterly cash dividend by 15.8% to $0.11 per share for the fourth quarter of 2024. The dividend is payable on October 31, 2024 to shareholders of record as of October 1, 2024. CEO Rick McTaggart attributed the increase to improved sales from Caribbean-based businesses and the resolution of the Mexico arbitration, resulting in increased cash flow. The company recently reported Q2 2024 revenue of $32.5 million and earnings per share of $0.99. This dividend increase reflects the company's strong positive outlook and commitment to shareholder value.
Positive
- Quarterly dividend increased by 15.8% to $0.11 per share
- Q2 2024 revenue of $32.5 million
- Q2 2024 earnings per share of $0.99
- Improved sales from Caribbean-based businesses
- Resolution of Mexico arbitration leading to increased cash flow
- Strong positive outlook reported by management
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, CWCO gained 3.66%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
GEORGE TOWN, Cayman Islands, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Consolidated Water Co. Ltd. (NASDAQ Global Select Market: CWCO), a leading designer, builder and operator of advanced water supply and treatment plants, has increased its quarterly cash dividend and declared a dividend of
This fourth quarter dividend represents an increase of
The cash dividend is payable on October 31, 2024 to shareholders of record at the close of business on October 1, 2024.
“Improving sales from our Caribbean-based businesses and the resolution of our Mexico arbitration have resulted in increased cash flow,” stated Consolidated Water president and CEO, Rick McTaggart. “These results and our strong positive outlook supported the decision by our board of directors to increase our quarterly dividend for our stockholders.”
The company also recently reported revenue of
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, constructs and operates seawater desalination facilities in the Cayman Islands, The Bahamas and the British Virgin Islands, and designs, constructs 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, construct, 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 cwco.com.
Company Contact:
David W. Sasnett
Executive Vice President and CFO
Tel (954) 509-8200
Email Contact
Investor & Media Relations Contact:
Ron Both or Grant Stude
CMA Investor & Media Relations
Tel (949) 432-7566
Email Contact
FAQ
What is Consolidated Water's new quarterly dividend for Q4 2024?
When will Consolidated Water (CWCO) pay its Q4 2024 dividend?
By what percentage did Consolidated Water (CWCO) increase its dividend?
What factors contributed to Consolidated Water's (CWCO) dividend increase?
What were Consolidated Water's (CWCO) Q2 2024 financial results?
