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Global Water Resources, Inc. (NASDAQ:GWRS), a water resource management company with a market capitalization of $286 million and impressive gross profit margins of 74%, announced the outcomes of its 2025 Annual Meeting of Stockholders held on May 15, 2025. The company, which has raised its dividend for nine consecutive years according to InvestingPro, reported the election of seven directors, the ratification of its independent auditor, and approval of executive officer compensation.
The stockholders elected seven directors to serve until the 2026 Annual Meeting or until their successors are elected. The directors re-elected are Ron L. Fleming, Richard M. Alexander, Andrew M. Cohn, Debra G. Coy, Brett Huckelbridge, Jonathan L. Levine, and David Rousseau. The votes for each director ranged from 17,527,426 to 18,977,734, with withheld votes varying from 237,663 to 1,687,971. There were also 1,006,544 broker non-votes for each director.
Additionally, the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified with 20,179,680 votes in favor, 36,164 against, and 6,097 abstentions. There were no broker non-votes for this proposal.
The compensation of the company’s named executive officers was approved on an advisory basis, with 18,956,587 votes for, 234,197 against, and 24,613 abstentions, accompanied by 1,006,544 broker non-votes.
Global Water Resources is a company that focuses on the ownership, operation, and management of water, wastewater, and recycled water utilities, primarily in strategically located communities in metropolitan Phoenix, Arizona.
The company stated that the full details of the annual meeting proposals and the voting results are described in the proxy statement filed with the Securities and Exchange Commission on April 4, 2025. This announcement is based on the company’s recent SEC filing.
In other recent news, Global Water Resources Inc. reported its Q1 2025 earnings, revealing a mixed performance. The company reported earnings per share of $0.02, which fell short of the expected $0.05. However, Global Water Resources exceeded revenue expectations, reporting $12.46 million against a forecast of $12 million. The company’s revenue rose by 7.3% year-over-year, reaching $12.5 million, although net income decreased to $600,000 from $700,000 in the previous year. The company also successfully raised $32 million in equity capital in March 2025.
Additionally, Global Water Resources held its 2025 Annual Meeting of Stockholders, where the election of its board members and the ratification of Deloitte & Touche LLP as its independent auditor were confirmed. The board members received between 91.22% and 98.76% of the votes in favor, with Ron L. Fleming receiving the highest approval. The compensation of the company’s named executive officers was also approved with 98.65% of votes in favor. The company is targeting the closure of a Tucson acquisition in the summer of 2025 and has filed rate cases to support future revenue increases.
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