PHOENIX, May 29, 2014 /CNW/ - GWR Global Water Resources Corp. (TSX: GWR) (the "Company") today announced that its board of directors has declared, under its recently approved dividend policy, a monthly cash dividend on the common shares of the Company (the "Shares") in the amount of CAD$0.022 per Share (an annualized amount of CAD$0.264 per Share), which will be payable on June 30, 2014, to holders of record at the close of business on June 16, 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.
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.
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