California Water Service Group (CWT) Announces Quarterly Dividend of $0.19

California Water Service Group (NYSE:CWT) declared a quarterly dividend on Wednesday, January 31st, RTT News reports. Investors of record on Monday, February 12th will be given a dividend of 0.1875 per share by the utilities provider on Friday, February 23rd. This represents a $0.75 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, February 9th. This is a boost from California Water Service Group’s previous quarterly dividend of $0.18.

California Water Service Group has raised its dividend by an average of 3.5% annually over the last three years and has increased its dividend every year for the last 50 years. California Water Service Group has a payout ratio of 54.1% meaning its dividend is sufficiently covered by earnings. Analysts expect California Water Service Group to earn $1.42 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 50.7%.

California Water Service Group (NYSE CWT) opened at $38.95 on Thursday. The stock has a market cap of $1,908.60, a price-to-earnings ratio of 27.43, a P/E/G ratio of 4.67 and a beta of 0.57. The company has a quick ratio of 0.46, a current ratio of 0.47 and a debt-to-equity ratio of 0.76. California Water Service Group has a fifty-two week low of $32.75 and a fifty-two week high of $46.15.

Several equities analysts recently issued reports on CWT shares. Zacks Investment Research upgraded shares of California Water Service Group from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Friday, October 27th. Hilliard Lyons lowered shares of California Water Service Group from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $38.33.

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About California Water Service Group

California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.

Dividend History for California Water Service Group (NYSE:CWT)

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