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

Global Water Resources, Inc. (NASDAQ:GWRS) 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 2.39%. The ex-dividend date of this dividend is Thursday, May 16th.

Global Water Resources has decreased its dividend by an average of 1.9% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Global Water Resources has a payout ratio of 88.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 Stock Performance

NASDAQ GWRS traded up $0.09 on Thursday, hitting $12.56. 1,333 shares of the company’s stock traded hands, compared to its average volume of 24,657. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.16. Global Water Resources has a 1-year low of $9.34 and a 1-year high of $13.43. The firm’s 50-day moving average price is $12.54 and its two-hundred day moving average price is $12.13. The firm has a market capitalization of $303.58 million, a PE ratio of 37.79, a P/E/G ratio of 2.63 and a beta of 0.98.

Global Water Resources (NASDAQ:GWRS) last posted its earnings results on Wednesday, March 6th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. Global Water Resources had a net margin of 15.05% and a return on equity of 13.64%. The firm had revenue of $12.37 million during the quarter, compared to analysts’ expectations of $12.00 million. During the same period in the previous year, the business posted $0.04 EPS. As a group, analysts expect that Global Water Resources will post 0.31 EPS for the current year.

Global Water Resources Company Profile

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.