PHOENIX, March 26, 2014 /CNW/ - GWR Global Water Resources Corp. (TSX:
GWR) (the "Company") today announced that its board of directors has
approved the introduction of a monthly dividend on the common shares of
the Company (the "Shares"). The Board has declared a monthly cash
dividend for April in the amount of CAD$0.022 per Share, which
represents CAD$0.264 per Share on an annualized basis. The dividend
will be paid on April 30, 2014, to holders of record at the close of
business on April 14, 2014. The dividend on the Shares is being made as
a result of the cash dividend declared by Global Water Resources, Inc.,
which will be paid to all its shareholders. The Company owns a 48.1%
interest in Global Water Resources, Inc.
"With the strong organic growth that has returned to Arizona, coupled
with the new rates recently achieved, our top line growth is very
strong. The available capacity that exists within our facilities
enables us to grow our connections without the need for significant
capital expenditure which supports predictable and growing free cash
flow for the foreseeable future," said Trevor Hill, Chairman of the
Board. "As a pure-play water and wastewater utility with these factors,
we are well positioned to generate a stable, sustainable dividend for
Pursuant to subsection 89(1) of the Canadian Income Tax Act ("ITA"), the
dividend being paid is designated as an "eligible dividend", as defined
in subsection 89(1) of the ITA.
Holders of Shares who are non-residents of Canada will be subject to
withholding taxes in respect of any distributions made by GWR Global
Water Resources Corp.
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 Resources, Inc.
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:
Tel: 416-815-0700 ext. 238