Global Water Resources Increases and Declares Monthly Dividend

Rhea-AI Summary

Global Water Resources has announced an increase in its monthly cash dividend by 1% to $0.29791 annually, equivalent to $0.02483 per month. The new dividend rate will take effect with the payment scheduled for December 29, 2022, to shareholders recorded by December 15, 2022. As a leading water resource management company, Global Water operates 25 systems, recycling over 1 billion gallons of water annually, and has been recognized for its effective Total Water Management approach, maximizing the beneficial use of recycled water in metropolitan Phoenix.

Positive

• Monthly cash dividend increased by 1% to $0.29791 annually
• Company recycles over 1 billion gallons of water annually
• Recognition for effective Total Water Management approach

Negative

• None.

PHOENIX, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), (TSX: GWR), a pure-play water resource management company, has declared, under its dividend policy, a monthly cash dividend increase of 1% to $0.29791 on an annualized basis. This equates to a monthly dividend of $0.02483.

The first dividend at the new monthly rate will be paid on December 29, 2022, to holders of record at the close of business on December 15, 2022.

About Global Water Resources
Global Water Resources, Inc. is a leading water resource management company that owns and operates 25 systems which provide water, wastewater, and recycled water services. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix. Global Water recycles over 1 billion gallons of water annually.

The company has been recognized for its highly effective implementation of Total Water Management (TWM). TWM is an integrated approach to managing the entire water cycle that involves owning and operating water, wastewater and recycled water utilities within the same geographic area in order to maximize the beneficial use of recycled water. It enables smart water management programs such as remote metering infrastructure and other advanced technologies, rate designs, and incentives that result in real conservation. TWM helps protect water supplies in water-scarce areas experiencing population growth. To learn more, visit www.gwresources.com.

Company Contact:
Michael Liebman
CFO and SVP
Tel (480) 999-5104
mike.liebman@gwresources.com        

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

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

FAQ

What are the new dividend details for GWRS?

The new monthly cash dividend for GWRS is $0.02483, resulting in an annualized rate of $0.29791.

When will the new dividend be paid?

The new dividend will be paid on December 29, 2022, to holders of record by December 15, 2022.

Is the GWRS dividend sustainable?

The sustainability of GWRS's dividend depends on its financial performance and water resource management efficiency.

What is Global Water Resources known for?

Global Water Resources is known for its water recycling initiatives and its Total Water Management approach.