Consolidated Water Announces Significant Dividend Increase for Q3
Consolidated Water Co. Ltd. Increases Q3 Dividend
Consolidated Water Co. Ltd. (NASDAQ: CWCO) has made an exciting announcement regarding its dividend policy. The company, renowned for its excellence in water supply and treatment solutions, has declared a cash dividend of $0.14 per share for the third quarter. This marks a notable uptick of 27.3% from the previous quarter's dividend of $0.11 per share.
Details of the Dividend Payment
This increased dividend is set to be paid out on July 31 to shareholders on record as of the close of business on July 1. The decision to raise the dividend reflects the company's robust financial performance across its various segments, which include retail, bulk, and manufacturing.
Solid Financial Performance Behind the Increase
Rick McTaggart, the president and CEO of Consolidated Water, shared insights on the company’s financial health. He emphasized that the continuous improvement in cash flows and liquidity stemmed from their operational segments' strong performance. Additionally, cash received from the recent resolution of an arbitration case in Mexico has aided their liquidity position. All these factors influenced the board's decision to increase dividends, ensuring that shareholders benefit directly from the company’s success.
Overview of Consolidated Water’s Operations
Consolidated Water is not just a leader in dividend increases; it is a significant player in the water supply industry. The company specializes in designing, constructing, and operating state-of-the-art water supply and treatment facilities. It manages seawater desalination projects and water treatment facilities in various regions, including the Cayman Islands, The Bahamas, and the British Virgin Islands, all aimed at promoting sustainable water access.
Innovative Projects and Future Prospects
One of the company's major ongoing ventures is a $204 million design-build-operate project for a seawater desalination plant in Hawaii. This ambitious undertaking showcases Consolidated Water's commitment to expanding its reach and capabilities in water supply solutions.
Diverse Product Offerings
In addition to its water supply operations, Consolidated Water offers a wide range of products and services. These include design, engineering, and management services tailored for both commercial and municipal water production and treatment projects, as well as industrial wastewater solutions. This diverse portfolio positions the company strongly in a competitive market.
Contacting Consolidated Water for More Information
For inquiries about Consolidated Water’s operations, potential investors, and related matters, David W. Sasnett, the Executive Vice President and CFO, is available to provide insight. You can reach him at (954) 509-8200.
Additionally, Ron Both and Grant Stude of Encore Investor & Media Relations are on hand for investor or media inquiries at (949) 432-7557.
Frequently Asked Questions
What is the new dividend amount declared by Consolidated Water?
The company has declared a quarterly dividend of $0.14 per share.
When will the dividend be paid out?
The dividend is scheduled for payment on July 31 to shareholders on record as of July 1.
How much has the dividend increased compared to the previous quarter?
The dividend has increased by 27.3% from the previous quarter's amount of $0.11 per share.
What factors led to the dividend increase?
Strong financial performance across several business segments, along with increased cash flows and a liquidation boost from a settlement, contributed to the board's decision to raise the dividend.
What types of projects is Consolidated Water involved in?
Consolidated Water focuses on designing and operating water supply and treatment facilities, including seawater desalination projects and water treatment facilities in several regions.
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