PHOENIX,
July 31, 2015 /CNW/ - GWR Global
Water Resources Corp. (TSX: GWR) (the "Company") announced today
that its board of directors declared, under its approved dividend
policy, an increased monthly cash dividend on the common shares of
the Company (the "Shares") in the amount of CAD $0.0283 per Share (an annualized amount of CAD
$0.3396 per Share). The dividend
payment reflects an increase in the annual dividend of CAD
$0.0276 or nearly 9%. The dividend
will be payable on August 28, 2015,
to holders of record at the close of business on August 14, 2015.
"This announcement marks our third dividend
increase since we initiated the dividend last year," said
Ron Fleming, President and CEO of
Global Water. "Throughout 2015, we've continued to achieve
meaningful results and have resurfaced the underlying value of
Global Water's assets. This progress is a true reflection of our
commitment in creating sustainable shareholder value."
The increased 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
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.