Glacier Water Services, the US water vendor, has said it will evaluate shareholder dividend on an annual basis, rather than quarterly.

The move means Glacier will not decide on its 2009 divident until the fourth quarter of next year.

Rising fuel costs and expansion investment have seen Glacier's net loss for the first nine months of the year hit $2.67m, roughly flat when compared to 2007.

"The board believes that annual consideration of the dividend will ensure the Company's ability to support opportunities for new business next year" said the group yesterday (11 December).

It said it remained confident of growth over the next 12 months.