PHOENIX, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, has increased its dividend by 1% and declared under its dividend policy an increased monthly cash dividend in the amount of $0.02533 per common share.
The increased monthly distribution represents a new annualized dividend rate of $0.30396 per share, an increase of $0.003 per share from the previous annual rate of $0.30096 per share.
The dividend will be payable on December 30, 2024, to holders of record at the close of business on December 16, 2024.
“Our regulated revenue and net income growth has been driven by increases in active connections and regulated rates,” stated Global Water Resources CFO Mike Liebman. “This performance, combined with our continued optimistic outlook, guided our board of directors in their decision to increase the monthly dividend for our stockholders.”
About Global Water Resources
Global Water Resources, Inc. is a leading water resource management company that owns and operates 32 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 with 17.4 billion gallons recycled since 2004.
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.
Global Water has received numerous industry awards, including national recognition as a ‘Utility of the Future Today’ for its superior water reuse practices by a national consortium of water and conservation organizations led by the Water Environment Federation (WEF). The company also received Cityworks’ Excellence in Departmental Practice Award for demonstrating leadership and creativity in applying public asset management strategies to daily operations and long-term planning.
To learn more, visit www.gwresources.com.
Company Contact:
Michael Liebman
CFO and SVP
Tel (480) 999-5104
Email Contact
Investor Relations Contact:
Ron Both or Grant Stude
CMA
Tel (949) 432-7566
Email contact
