SJW Corporation (SJW) To Go Ex-Dividend on November 3rd

SJW Corporation (NYSE:SJW) announced a quarterly dividend on Wednesday, October 25th, NASDAQ reports. Stockholders of record on Monday, November 6th will be paid a dividend of 0.218 per share by the utilities provider on Friday, December 1st. This represents a $0.87 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, November 3rd. This is a positive change from SJW Corporation’s previous quarterly dividend of $0.19.

SJW Corporation has raised its dividend by an average of 3.5% annually over the last three years and has raised its dividend every year for the last 49 years. SJW Corporation has a payout ratio of 35.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SJW Corporation to earn $2.63 per share next year, which means the company should continue to be able to cover its $0.87 annual dividend with an expected future payout ratio of 33.1%.

Shares of SJW Corporation (SJW) traded up 2.28% during midday trading on Friday, hitting $63.31. The stock had a trading volume of 68,148 shares. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 23.71 and a beta of 0.15. SJW Corporation has a 52 week low of $45.39 and a 52 week high of $66.45. The stock’s 50-day moving average price is $59.25 and its 200 day moving average price is $53.18.

SJW Corporation (NYSE:SJW) last issued its quarterly earnings results on Wednesday, October 25th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.15. SJW Corporation had a net margin of 14.83% and a return on equity of 11.99%. The company had revenue of $124.58 million during the quarter, compared to analyst estimates of $107.00 million. On average, equities analysts forecast that SJW Corporation will post $2.47 earnings per share for the current year.

In other news, insider Palle Jensen sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $55.14, for a total transaction of $165,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 21.10% of the company’s stock.

Several brokerages have recently issued reports on SJW. BidaskClub lowered shares of SJW Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of SJW Corporation from a “hold” rating to a “strong-buy” rating and set a $61.00 price target for the company in a research note on Wednesday, August 2nd. Finally, Janney Montgomery Scott upgraded shares of SJW Corporation from a “neutral” rating to a “buy” rating in a research note on Friday, July 28th.

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SJW Corporation Company Profile

SJW Group, formerly SJW Corp., is a holding company. The Company’s subsidiaries include San Jose Water Company, SJWTX, Inc, SJW Land Company and Texas Water Alliance Limited (TWA). SJWTX, Inc is doing business as Canyon Lake Water Service Company (CLWSC). It operates through the segments, which include Water Utility Services, Real Estate Services and All Other.

Dividend History for SJW Corporation (NYSE:SJW)

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