Global Water Resources, Inc. (NASDAQ:GWRS) Announces Dividend Increase – $0.03 Per Share

Global Water Resources, Inc. (NASDAQ:GWRS) announced a dividend on Wednesday, November 27th,NASDAQ Dividends reports. Investors of record on Monday, December 16th will be paid a dividend of 0.0253 per share by the utilities provider on Monday, December 30th. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Global Water Resources’s previous dividend of $0.02.

Global Water Resources has decreased its dividend payment by an average of 1.9% per year over the last three years. Global Water Resources has a dividend payout ratio of 100.0% meaning 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 $0.30 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 100.0%.

Global Water Resources Price Performance

GWRS traded up $0.32 on Thursday, hitting $13.42. 31,892 shares of the company’s stock were exchanged, compared to its average volume of 23,768. Global Water Resources has a fifty-two week low of $11.41 and a fifty-two week high of $13.98. The stock has a market cap of $325.06 million, a price-to-earnings ratio of 49.70, a P/E/G ratio of 3.16 and a beta of 0.96. The firm has a 50-day moving average price of $12.70 and a 200-day moving average price of $12.54. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 2.47.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. The firm had revenue of $14.32 million for the quarter, compared to analyst estimates of $14.65 million. During the same period in the previous year, the business posted $0.11 earnings per share. As a group, equities analysts anticipate that Global Water Resources will post 0.28 earnings per share 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.