Global Water Resources, Inc. (GWRS) to Issue Monthly Dividend of $0.03 on May 29th

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Thursday, April 30th. Shareholders of record on Friday, May 15th will be given a dividend of 0.0253 per share by the utilities provider on Friday, May 29th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, May 15th.

Global Water Resources has decreased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 8 years. Global Water Resources has a dividend payout ratio of 107.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Global Water Resources to earn $0.12 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 250.0%.

Global Water Resources Price Performance

Shares of NASDAQ:GWRS opened at $6.97 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.54. The company has a 50-day moving average price of $7.58 and a 200 day moving average price of $8.45. Global Water Resources has a 52 week low of $6.89 and a 52 week high of $11.17. The company has a market cap of $200.46 million, a P/E ratio of 69.71 and a beta of 0.92.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings data on Wednesday, March 4th. The utilities provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05). Global Water Resources had a net margin of 5.30% and a return on equity of 4.73%. The company had revenue of $13.54 million during the quarter, compared to analyst estimates of $13.73 million. Research analysts predict that Global Water Resources will post 0.06 earnings per share for the current year.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.