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