Primo Water Corporation Declares Quarterly Dividend

Rhea-AI Summary

Primo Water Corporation (NYSE: PRMW) has declared a quarterly dividend of US$0.07 per share on common shares. This dividend is payable in cash on December 9, 2022, to shareholders on record at the close of business on November 29, 2022. The company, a leader in sustainable drinking water solutions, generates approximately $2.1 billion in annual revenue and operates under a recurring revenue model. Its offerings include water delivery and dispenser sales across a 21-country footprint, promoting healthier lifestyles while reducing plastic waste.

Positive

• Declared a quarterly dividend of US$0.07 per share, demonstrating commitment to shareholder returns.
• Generates approximately $2.1 billion in annual revenue, indicating robust financial performance.
• Operates a sustainable business model that reduces plastic waste, supporting environmental initiatives.

Negative

• None.

TAMPA, Fla., Nov. 9, 2022 /PRNewswire/ - Primo Water Corporation (NYSE: PRMW) (TSX: PRMW) (the "Company" or "Primo"), a leading provider of sustainable drinking water solutions in North America and Europe, today announced that its Board of Directors declared a dividend of US$0.07 per share on common shares, payable in cash on December 9, 2022, to shareowners of record at the close of business on November 29, 2022.

ABOUT PRIMO WATER CORPORATION

Primo Water Corporation is a leading pure-play water solutions provider in North America and Europe and generates approximately $2.1 billion in annual revenue. Primo operates largely under a recurring razor/razorblade revenue model. The razor in Primo's revenue model is its industry leading line-up of sleek and innovative water dispensers, which are sold through retailers and online at various price points. The dispensers help increase household penetration which drives recurring purchases of Primo's razorblade offering. Primo's razorblade offering is comprised of Water Direct, Water Exchange, and Water Refill. Through its Water Direct business, Primo delivers sustainable hydration solutions across its 21-country footprint direct to the customer's door, whether at home or to businesses. Through its Water Exchange and Water Refill businesses, Primo offers pre-filled and reusable containers at approximately 14,000 locations, water dispenser sales at approximately 10,000 locations and water refill units at approximately 24,000 locations, respectively. Primo also offers water filtration units across its 21-country footprint. 

Primo's water solutions expand consumer access to purified, spring, and mineral water to promote a healthier, more sustainable lifestyle while simultaneously reducing plastic waste and pollution. Primo is committed to its water stewardship standards and is proud to partner with the International Bottled Water Association (IBWA) in North America as well as with Watercoolers Europe (WE), which ensure strict adherence to safety, quality, sanitation and regulatory standards for the benefit of consumer protection.

Primo is headquartered in Tampa, Florida (USA). For more information, visit www.primowatercorp.com.

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SOURCE Primo Water Corporation

FAQ

What is the dividend amount declared by Primo Water Corporation?

Primo Water Corporation declared a dividend of US$0.07 per share.

When is the dividend payable for Primo Water Corporation?

The dividend is payable on December 9, 2022.

What is the record date for the dividend of Primo Water Corporation?

The record date for the dividend is November 29, 2022.

How much revenue does Primo Water Corporation generate annually?

Primo Water Corporation generates approximately $2.1 billion in annual revenue.

In how many countries does Primo Water Corporation operate?

Primo Water Corporation operates in a total of 21 countries.