Glacier Water Services has given details of its first dividend payment of 2007.

The US bottled water machine provider said yesterday (4 January) that a dividend of US$0.40 per common stock share will be paid on 30 January. Shareholders of record on 16 January will qualify for the payment.

"The board has not adopted a formal policy with respect to the amount or frequency of future dividends," the company noted, "but intends to evaluate on a quarterly basis the appropriateness of paying a dividend for each such period."

In November last year, Glacier posted a 9.9% increase in revenues for its third quarter, crediting acquisitions, good weather and productivity for the rise to $25.2m.

Income for the three months to 1 October soared to $2.9m from $808,000 in the corresponding period a year earlier.