- Primo Water Corporation (PRMW) announced a $100 million share repurchase program and declared a quarterly dividend
- The share repurchase program will begin on Monday and close on August 14th, 2023
- A dividend of US$0.07 per common share payable in cash on September 7th
- Primo is a pure-play water solutions provider in North America and Europe
- Primo Water Corporation (PRMW) is up 5.54 per cent and is trading at $16.57 per share as of 11:53 a.m. ET
Primo Water Corporation (PRMW) has announced a $100 million share repurchase program and declared a quarterly dividend.
The company stated its share repurchase program will begin on Monday and close on August 14th, 2023. With this, the company’s common shares can be repurchased periodically in open market or privately negotiated transactions.
“Primo’s cash flow and balance sheet enable us to simultaneously return value to shareholders through regular quarterly dividends as well as an opportunistic share repurchase program of $100 million while at the same time continuing to invest in internal and external opportunities that will further strengthen our operations and drive long-term growth,” Tom Harrington, Primo’s CEO, said.
Primo also announced that its board of directors declared a dividend of US$0.07 per common shares which is payable in cash on September 7th to recorded shareholders at market close on August 24th
Primo is a pure-play water solutions provider in North America and Europe and generates approximately $2.1 billion in annual revenue. The company operates under a recurring razor revenue model.
Primo Water Corporation (PRMW) is up 5.54 per cent and is trading at $16.57 per share as of 11:53 a.m. ET.