PHOENIX, AZ, July 28, 2015 /CNW/ - GWR Global Water Resources Corp. (the "Company") (TSX: GWR) today announced that the Company's Board of Directors has declared a special cash dividend of CAD $1.55 per share. The special dividend is payable on August 12, 2015 to shareholders of record as of the close of business on August 7, 2015.
"The decision to declare this one-time special dividend is a validation of the progress we have made implementing our strategic plan since 2012 and is an appropriate return of capital to our shareholders that have supported the Company along the way," stated Ron Fleming, President and CEO of Global Water. "The ongoing phase-in of new rates, the payoff of a portion of our debt and the disposition of non-core assets has significantly strengthened our financial position. Coupled with steadily increasing active service connections, we will continue to recognize strong revenue growth and the ability to return consistent shareholder value beyond this one-time special dividend."
The special cash dividend is being made as a result of the one-time, non-recurring dividend declared by Global Water Resources, Inc. The Company owns a 48.1% interest in Global Water Resources, Inc.
About GWR Global Water Resources Corp.
The Company was incorporated in British Columbia to acquire shares of U.S. based Global Water Resources, Inc. ("Global Water") and to actively participate in the management, business and operations of Global Water through its representation on the board of directors of Global Water and its shared management of Global Water.
About Global Water
Global Water is a pure-play, high-growth water resources company located in Phoenix, Arizona, that owns and operates regulated water, wastewater and recycled water utilities in the metropolitan Phoenix area.
SOURCE GWR Global Water Resources Corp.
For further information: Marina Proskurovsky, Investor Relations | NATIONAL Equicom, Tel: 416.815.0700 ext. 288, Email: firstname.lastname@example.org, www.gwresources.com