Global Water Resources Inc (GWRS) to Issue Monthly Dividend of $0.02 on July 31st

Global Water Resources Inc (NASDAQ:GWRS) declared a monthly dividend on Friday, June 28th, NASDAQ reports. Stockholders of record on Wednesday, July 17th will be paid a dividend of 0.024 per share by the utilities provider on Wednesday, July 31st. This represents a $0.29 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Tuesday, July 16th. This is a boost from Global Water Resources’s previous monthly dividend of $0.02.

Global Water Resources has a dividend payout ratio of 152.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Water Resources to earn $0.18 per share next year, which means the company may not be able to cover its $0.29 annual dividend with an expected future payout ratio of 161.1%.

Shares of Global Water Resources stock opened at $10.67 on Friday. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.79 and a quick ratio of 1.79. Global Water Resources has a 52-week low of $9.00 and a 52-week high of $11.61. The company has a market capitalization of $229.76 million, a PE ratio of 71.13, a price-to-earnings-growth ratio of 4.74 and a beta of -0.01. The business has a 50 day moving average price of $10.12.

Global Water Resources (NASDAQ:GWRS) last issued its earnings results on Wednesday, May 8th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. Global Water Resources had a net margin of 9.58% and a return on equity of 13.74%. The firm had revenue of $7.72 million for the quarter, compared to analysts’ expectations of $8.30 million. Analysts forecast that Global Water Resources will post 0.15 earnings per share for the current year.

Separately, Zacks Investment Research upgraded shares of General Moly from a “sell” rating to a “hold” rating in a report on Thursday.

Global Water Resources Company Profile

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2018, it served approximately 55,000 people in 21,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

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Dividend History for Global Water Resources (NASDAQ:GWRS)

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