GEORGE TOWN, Cayman Islands, Nov. 27, 2017 /PRNewswire/ -- Consolidated Water Co. Ltd. (NASDAQ Global Select Market: CWCO), a leading developer and operator of seawater desalination plants, today announced that its Board of Directors has approved a quarterly cash dividend increase to $0.085 per share from $0.075 per share.
"Over the past 11 months we have successfully renewed several long-term water supply agreements resulting in greater visibility of long-term cash flows. Additionally, our development funding commitments for the Rosarito, Mexico project are coming to an end. These factors combined with our strong cash position have enabled us to increase returns to our shareholders via a dividend increase," said President and CEO Rick McTaggart.
The cash dividend is payable January 31, 2018 to shareholders of record at the close of business January 3, 2018.
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About Consolidated Water Co. Ltd.
Consolidated Water Co. Ltd. develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce. The Company operates water production and/or distribution facilities in the Cayman Islands, Belize, the British Virgin Islands, The Commonwealth of The Bahamas, and Bali, Indonesia. The Company also manufactures and services a wide range of products and provides design, engineering, management, operating and other services applicable to commercial and municipal water production, supply and treatment, and industrial water and wastewater treatment in the United States.
Consolidated Water Co. Ltd. is headquartered in George Town, Grand Cayman, in the Cayman Islands. The Company's ordinary (common) stock is traded on the NASDAQ Global Select Market under the symbol "CWCO". Additional information on the Company is available on its website at http://www.cwco.com.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "intend", "expect", "should" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, changes in its relationships with the governments of the jurisdictions in which it operates, the outcome of its negotiations with the Cayman government regarding a new retail license agreement, its ability to successfully secure contracts for water projects, including the project under development in Baja California, Mexico, its ability to develop and operate such projects profitably, and its ability to manage growth and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission ("SEC"). By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
For further information, please contact our investor relations firm, AdvisIRy Partners:
Lynn Morgen: (212) 223 4147 lynn.morgen@advisiry.com
Eric Prouty: (978) 456 9539 eric.prouty@advisiry.com
Viktoriia Nakhla: (646) 625 4800 viktoriia.nakhla@advisiry.com
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SOURCE Consolidated Water Co. Ltd.