Primo Water Declares Quarterly Dividend

Rhea-AI Summary

Primo Water (NYSE: PRMW) (TSX: PRMW), a leading provider of sustainable drinking water solutions in North America, has announced a quarterly dividend. The company's Board of Directors has declared a dividend of US$0.09 per share on common shares. This dividend will be payable in cash on September 5, 2024 to shareowners of record at the close of business on August 22, 2024. This announcement demonstrates Primo Water's commitment to returning value to its shareholders and may indicate the company's financial stability and confidence in its future performance.

Positive

• Consistent dividend payment indicates financial stability
• US$0.09 per share dividend provides income for shareholders

Negative

• None.

TAMPA, Fla., Aug. 7, 2024 /PRNewswire/ - Primo Water Corporation (NYSE: PRMW) (TSX: PRMW) (the "Company" or "Primo Water"), a leading provider of sustainable drinking water solutions in North America, today announced that its Board of Directors declared a dividend of US$0.09 per share on common shares, payable in cash on September 5, 2024 to shareowners of record at the close of business on August 22, 2024.

ABOUT PRIMO WATER CORPORATION 

Primo Water is a leading North America-focused pure-play water solutions provider that operates largely under a recurring revenue model in the large format water category (defined as 3 gallons or greater). This business strategy is commonly referred to as "razor-razorblade" because the initial sale of a product creates a base of users who frequently purchase complementary consumable products. The razor in Primo Water's revenue model is its industry leading line-up of innovative water dispensers, which are sold through approximately 11,350 retail locations and online at various price points. The dispensers help increase household and business penetration which drives recurring purchases of Primo Water's razorblade offering or water solutions. Primo Water's razorblade offering is comprised of Water Direct, Water Exchange, and Water Refill. Through its Water Direct business, Primo Water delivers sustainable hydration solutions direct to customers, whether at home or to businesses. Through its Water Exchange business, customers visit retail locations and purchase a pre-filled bottle of water. Once consumed, empty bottles are exchanged at our recycling center displays, which provide a ticket that offers a discount toward the purchase of a new bottle. Water Exchange is available in approximately 17,950 retail locations. Through its Water Refill business, customers refill empty bottles at approximately 23,500 self-service refill drinking water stations. Primo Water also offers water filtration units across North America.

Primo Water's water solutions expand consumer access to purified, spring, and mineral water to promote a healthier, more sustainable lifestyle while simultaneously reducing plastic waste and pollution. Primo Water is committed to its water stewardship standards and is proud to partner with the International Bottled Water Association (IBWA) in North America which ensures strict adherence to safety, quality, sanitation and regulatory standards for the benefit of consumer protection.

Primo Water is headquartered in Tampa, Florida (USA). For more information, visit www.primowatercorp.com.

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SOURCE Primo Water Corporation

FAQ

What is the dividend amount for Primo Water (PRMW) in Q3 2024?

Primo Water (PRMW) has declared a dividend of US$0.09 per share for Q3 2024.

When is the payment date for Primo Water's (PRMW) Q3 2024 dividend?

The payment date for Primo Water's (PRMW) Q3 2024 dividend is September 5, 2024.

What is the record date for Primo Water's (PRMW) latest dividend?

The record date for Primo Water's (PRMW) latest dividend is August 22, 2024, at the close of business.

How often does Primo Water (PRMW) pay dividends?

Based on this announcement, Primo Water (PRMW) appears to pay dividends quarterly, though the exact frequency should be confirmed with the company's dividend history.