Global Water Resources, Inc. (NASDAQ:GWRS) to Issue Monthly Dividend of $0.03

Global Water Resources, Inc. (NASDAQ:GWRSGet Free Report) announced a monthly dividend on Tuesday, April 30th, Zacks reports. Shareholders of record on Friday, May 17th will be paid a dividend of 0.025 per share by the utilities provider on Friday, May 31st. This represents a $0.30 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, May 16th.

Global Water Resources has decreased its dividend payment by an average of 1.9% annually over the last three years and has increased its dividend every year for the last 7 years. Global Water Resources has a dividend payout ratio of 88.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Global Water Resources to earn $0.34 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 88.2%.

Global Water Resources Price Performance

Shares of Global Water Resources stock opened at $12.99 on Wednesday. The firm has a market capitalization of $314.10 million, a PE ratio of 49.96, a price-to-earnings-growth ratio of 2.80 and a beta of 0.98. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 2.56. Global Water Resources has a 12 month low of $9.34 and a 12 month high of $13.43. The business’s 50-day moving average price is $12.53 and its 200-day moving average price is $12.34.

Global Water Resources (NASDAQ:GWRSGet Free Report) last announced its quarterly earnings data on Wednesday, March 6th. The utilities provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Global Water Resources had a net margin of 12.05% and a return on equity of 13.32%. The firm had revenue of $12.37 million during the quarter, compared to analyst estimates of $12.00 million. During the same period in the previous year, the business posted $0.04 EPS. Sell-side analysts forecast that Global Water Resources will post 0.31 EPS for the current fiscal year.

About Global Water Resources

(Get Free Report)

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

See Also

Dividend History for Global Water Resources (NASDAQ:GWRS)

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