GWR Global Water Resources Corp. (TSX: GWR) was incorporated in British Columbia. The company was set up to acquire shares of Global Water Resources Inc., which is a U.S.-based pure-play, high-growth water resources company. Global Water owns and operates regulated water, wastewater and recycled water utilities in the metropolitan Phoenix area. GWR owns a 48% interest in Global Water Resources.
GWR shares have edged higher in trading today. The stock rose after the company announced that its Board of Directors declared a monthly cash dividend on common shares of the company. The company will pay a dividend of C$0.0283 per share. The dividend will be payable on April 29, 2016. The dividend payment is being made after Global Water Resources Inc. declared a cash dividend.
Recently, GWR also reported its results for the quarter ended December 31, 2015. The company’s consolidated revenue for the quarter was $7.1 million, compared to $7.9 million reported for the same period in the previous year. For the full fiscal year, GWR reported consolidated revenue of $32 million, compared to $32.6 million reported in the previous year. The decrease in revenue was mainly due to the impacts of Valencia disposition.
