Global Water Resources Inc (NASDAQ:GWRS) announced a monthly dividend on Tuesday, July 31st, Wall Street Journal reports. Stockholders of record on Thursday, August 16th will be given a dividend of 0.0236 per share by the utilities provider on Thursday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Wednesday, August 15th.

Global Water Resources has a dividend payout ratio of 164.7% 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 $0.21 per share next year, which means the company may not be able to cover its $0.28 annual dividend with an expected future payout ratio of 133.3%.

Shares of NASDAQ GWRS opened at $9.60 on Friday. The company has a market capitalization of $205.96 million, a P/E ratio of 79.92, a price-to-earnings-growth ratio of 3.76 and a beta of -0.07. Global Water Resources has a 1 year low of $8.40 and a 1 year high of $10.00. The company has a debt-to-equity ratio of 8.24, a current ratio of 1.04 and a quick ratio of 1.04.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Global Water Resources had a net margin of 14.70% and a return on equity of 16.96%. analysts forecast that Global Water Resources will post 0.17 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on GWRS shares. Zacks Investment Research upgraded shares of Global Water Resources from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Wednesday, May 16th. TheStreet upgraded shares of Global Water Resources from a “d” rating to a “c-” rating in a report on Wednesday, May 9th.

In related news, Director Trevor T. Hill sold 8,500 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $9.09, for a total value of $77,265.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Trevor T. Hill sold 3,242 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $9.24, for a total transaction of $29,956.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,407 shares of company stock valued at $120,729. 50.00% of the stock is owned by company insiders.

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, 2017, it served approximately 51,000 people in approximately 20,000 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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