A water purification and dispensing system comprising a water recirculation loop including a water inlet for introducing water to be purified; pumping means for pumping water through said water recirculation loop in a flow direction; water purification means for purifying water downstream of said water inlet; a dispensing portion of the water recirculation loop including one or more outlet/outlets for purified water branched from said water recirculation loop downstream of said water purification means; a first valve arranged between each outlet and said water recirculation loop, for controlled dispensing of the purified water from said recirculation loop through the respective outlet; a second valve arranged in said dispensing portion of the water recirculation loop downstream of said first valve(s) and upstream of said pumping means; a bypass passage branched from said water recirculation loop and bypassing said dispensing portion of the water recirculation loop including said first valve(s) and said second valve, a third valve for controlling the flow rate through said bypass passage, and a fourth valve for controlling the flow rate into said dispensing portion of the water recirculation loop including said first valve(s) and said second valve, characterized in that said third valve and said fourth valve are integrated in the form of a fluid distributor valve for repartitioning an inlet fluid stream into two outlet fluid streams (X,Y), comprising: an inlet port; two outlet ports (11,12); a first and a second valve mechanism (13,14), one arranged upstream each outlet port (11,12); wherein each valve mechanism (13,14) comprises a valve body (15,16) slidable in a cylindrical valve bore in reciprocating strokes through a valve shaft, wherein the valve body (15,16) includes a first portion (15a,16a) that is formed with a progressively changing diameter so as to reduce a valve gap between the valve bore inner peripheral wall and the valve body outer peripheral wall at a plane (A,B) perpendicular to the stroke direction, in a regular operating range of the valve mechanism (13,14), from a maximum valve gap to a minimum valve gap, to reduce or increase the flow rate through the gap towards the associated outlet port (11,12) upon the relative movement, and wherein at least one of the valve bodies (15,16) of the valve mechanisms (13,14), preferably both, is/are formed such that the minimum valve gap is maintained at the end position of the stroke of the valve body (15,16) in the regular operating range. an inlet port; two outlet ports (11,12); a first and a second valve mechanism (13,14), one arranged upstream each outlet port (11,12); wherein each valve mechanism (13,14) comprises a valve body (15,16) slidable in a cylindrical valve bore in reciprocating strokes through a valve shaft, wherein the valve body (15,16) includes a first portion (15a,16a) that is formed with a progressively changing diameter so as to reduce a valve gap between the valve bore inner peripheral wall and the valve body outer peripheral wall at a plane (A,B) perpendicular to the stroke direction, in a regular operating range of the valve mechanism (13,14), from a maximum valve gap to a minimum valve gap, to reduce or increase the flow rate through the gap towards the associated outlet port (11,12) upon the relative movement, and wherein at least one of the valve bodies (15,16) of the valve mechanisms (13,14), preferably both, is/are formed such that the minimum valve gap is maintained at the end position of the stroke of the valve body (15,16) in the regular operating range.