PRIMO WATER CORPORATION INCREASES QUARTERLY DIVIDEND

Rhea-AI Summary

Primo Water Corporation (NYSE: PRMW) announced a dividend increase to $0.07 per share, up 16.7% from $0.06, payable on March 28, 2022. The record date for the dividend is March 11, 2022. With annual revenues of approximately $2.1 billion, Primo offers sustainable drinking water solutions across 22 countries, promoting a healthier lifestyle while reducing plastic waste. The company operates under a recurring revenue model with a wide distribution network, including over 13,000 water exchange locations.

Positive

• Dividend increased by 16.7% to $0.07 per share, indicating strong company confidence.
• Annual revenue of approximately $2.1 billion highlights robust financial health.
• Recurring revenue model strengthens long-term financial sustainability.
• Wide distribution network across 22 countries enhances market reach.

Negative

• None.

TAMPA, Fla., Feb. 23, 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 $0.07 per share on common shares, payable in cash on March 28, 2022, to shareowners of record at the close of business on March 11, 2022 (an increase of 16.7% from the prior quarterly cash dividend of $0.06 per common share).

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 22-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 over 13,000 locations and water refill units at approximately 22,000 locations, respectively. Primo also offers water filtration units across its 22-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 new dividend amount announced by PRMW?

Primo Water Corporation announced a new dividend amount of $0.07 per share.

When is the dividend payable for PRMW?

The dividend is payable on March 28, 2022.

What was the previous dividend amount for PRMW?

The previous dividend amount was $0.06 per share.

What is the record date for the PRMW dividend?

The record date for the dividend is March 11, 2022.

How does PRMW's revenue model work?

Primo operates under a recurring razor/razorblade revenue model, selling water dispensers and related products.