Discover the Latest: Consolidated Water's 11.8% Dividend Increase for Q4 2023 Unveiled
George Town, Cayman Islands – Consolidated Water Co. Ltd. (NASDAQ: CWCO), a prominent player in the advanced water supply and treatment plant sector, has exciting news for its investors. The company has declared an increase in its quarterly cash dividend and has announced a dividend of $0.095 per share for the fourth quarter of 2023. This announcement comes as the company continues to experience robust growth and enhanced financial performance across its various business segments.
Shareholders of Consolidated Water will be pleased to know that the declared dividend for Q4 2023 represents a remarkable 11.8% increase compared to the dividend paid out in the third quarter of the same year, which was $0.085 per share. This substantial increase in dividend highlights the company's commitment to delivering value to its shareholders even as it experiences impressive expansion.
For those invested in Consolidated Water, the company has scheduled the dividend payout for October 31, 2023. Shareholders who are on record as of October 2, 2023, will be eligible to receive the dividend. This strategy ensures that investors who have shown their trust and commitment to the company's growth are rewarded appropriately.
Consolidated Water's President and CEO, Rick McTaggart, expressed his enthusiasm for the increased dividend, citing the company's robust growth in all four business segments. He stated, "Our strong growth across all four of our business segments has resulted in increased profitability and cash flow. This performance and positive outlook supported our board of directors' decision to increase our quarterly dividend for our stockholders." This announcement reflects the company's positive outlook and its dedication to sharing the rewards of success with its investors.
The dividend increase announcement aligns with the company's impressive financial performance in the second quarter of 2023. Consolidated Water recently reported a remarkable 110% surge in revenue, reaching an impressive $44.2 million. This surge in revenue was a driving force behind the company's enhanced earnings per share (EPS), which reached $0.47.
As Consolidated Water continues to make strides in the water supply and treatment plant industry, investors can take comfort in the company's commitment to delivering value through both its operational excellence and its rewarding dividend policy. With a clear focus on growth and a robust financial foundation, Consolidated Water stands as a beacon of opportunity for investors seeking both stability and profit potential.
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