Primo Water Corporation Declares Quarterly Dividend

Rhea-AI Summary

Primo Water Corporation (NYSE:PRMW) announced a dividend of US$0.06 per share, payable on December 4, 2020 to shareholders of record by November 24, 2020. The company generates approximately $2.1 billion in annual revenue and operates under a recurring revenue model, providing water solutions across North America, Europe, and Israel. Primo aims to promote sustainable hydration through its diverse offerings, including delivery, exchange, refill services, and water filtration units, ensuring adherence to strict safety and quality standards.

Positive

• Declared a quarterly dividend of US$0.06 per share, demonstrating confidence in cash flow.
• Annual revenue of approximately $2.1 billion highlights a strong market position.
• Recurring revenue model supports sustainable growth and customer retention.

Negative

• None.

TAMPA, Fla., Nov. 4, 2020 /PRNewswire/ - Primo Water Corporation (NYSE:PRMW; TSX:PRMW) (the "Company" or "Primo"), a leading provider of water direct to consumers and water filtration services in North America and Europe as well as a leading provider of water dispensers, purified bottled water, and self-service refill drinking water in the U.S. and Canada,  announced that its Board of Directors declared a dividend of US$0.06 per share on common shares, payable in cash on December 4, 2020 to shareowners of record at the close of business on November 24, 2020.

ABOUT PRIMO WATER CORPORATION

Primo Water Corporation is a leading pure-play water solutions provider in North America, Europe and Israel 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 major retailers and online at various price points or leased to customers. 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 commercial businesses. Through its Water Exchange and Water Refill businesses, Primo offers pre-filled and reusable containers at over 13,000 locations and water refill units at approximately 22,000 locations, respectively. Primo also offers water filtration units across its 21-country footprint representing a top five position.

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$0.06 per share.

When will the dividend payment date be for Primo Water Corporation?

The dividend payment date is set for December 4, 2020.

What are the record dates for the dividend declared by Primo Water Corporation?

The record date for the dividend is November 24, 2020.

How much annual revenue does Primo Water Corporation generate?

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

What regions does Primo Water Corporation operate in?

Primo Water Corporation operates in North America, Europe, and Israel.