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

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Thursday, October 31st,Zacks Dividends 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 2.28%. The ex-dividend date is Wednesday, November 13th.

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 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 tumble. Research analysts expect Global Water Resources to earn $0.29 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 103.4%.

Global Water Resources Price Performance

Shares of GWRS stock opened at $13.17 on Tuesday. The stock’s fifty day moving average is $12.64 and its 200-day moving average is $12.51. The stock has a market capitalization of $318.98 million, a PE ratio of 48.56, a PEG ratio of 3.33 and a beta of 0.96. Global Water Resources has a 52 week low of $10.73 and a 52 week high of $13.98. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.86 and a current ratio of 1.62.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $14.32 million for the quarter, compared to analysts’ expectations of $14.65 million. Global Water Resources had a return on equity of 14.23% and a net margin of 12.52%. During the same quarter last year, the business earned $0.11 earnings per share. Equities research analysts expect that Global Water Resources will post 0.27 EPS for the current fiscal 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.