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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Thursday, October 31st, Zacks reports. Stockholders of record on Wednesday, November 13th will be paid a dividend of 0.025 per share by the utilities provider on Wednesday, November 27th. This represents a $0.30 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, November 13th.

Global Water Resources has decreased its dividend by an average of 1.9% per year over the last three years. Global Water Resources has a payout ratio of 96.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Global Water Resources to earn $0.31 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 96.8%.

Global Water Resources Trading Up 0.4 %

GWRS stock traded up $0.05 during midday trading on Friday, reaching $12.54. The company’s stock had a trading volume of 456 shares, compared to its average volume of 23,572. Global Water Resources has a 52 week low of $9.60 and a 52 week high of $13.42. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 2.53. The stock has a market cap of $303.72 million, a PE ratio of 48.23, a price-to-earnings-growth ratio of 3.09 and a beta of 0.97. The business’s 50-day simple moving average is $12.58 and its 200-day simple moving average is $12.47.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $13.51 million during the quarter, compared to the consensus estimate of $13.60 million. Global Water Resources had a return on equity of 13.45% and a net margin of 11.91%. During the same quarter last year, the company earned $0.07 earnings per share. As a group, sell-side analysts expect that Global Water Resources will post 0.27 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.