Primo Water Corporation Declares Quarterly Dividend

Rhea-AI Summary

Primo Water Corporation (NYSE: PRMW) has declared a quarterly dividend of US$0.06 per share, payable on March 29, 2021, to shareholders of record by March 12, 2021. The company, a leader in water solutions across North America and Europe, generates approximately $2.0 billion in annual revenue through a recurring revenue model. Its offerings include water dispensers, delivery services, and refill stations, promoting sustainable hydration and reducing plastic waste.

Positive

• Declared quarterly dividend of US$0.06 per share.
• Stable revenue generation of approximately $2.0 billion annually.
• Strong recurring revenue model enhancing financial stability.

Negative

• None.

TAMPA, Flo., Feb. 24, 2021 /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 and spring 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 March 29, 2021 to shareowners of record at the close of business on March 12, 2021.

ABOUT PRIMO WATER CORPORATION

Primo Water Corporation is a leading pure-play water solutions provider in North America, Europe and Israel and generates approximately $2.0 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 be paid to shareholders?

The dividend will be paid on March 29, 2021.

What is the record date for the dividend?

The record date for the dividend is March 12, 2021.

How much revenue does Primo Water Corporation generate?

Primo Water Corporation generates approximately $2.0 billion in annual revenue.

What business model does Primo Water Corporation use?

Primo operates under a recurring razor/razorblade revenue model, focusing on water dispensers and delivery services.