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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Monday, September 30th, Zacks reports. Stockholders of record on Thursday, October 17th will be paid a dividend of 0.025 per share by the utilities provider on Thursday, October 31st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, October 17th.

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 Price Performance

Shares of NASDAQ:GWRS opened at $12.47 on Wednesday. The business has a 50-day simple moving average of $12.53 and a two-hundred day simple moving average of $12.49. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market cap of $301.47 million, a price-to-earnings ratio of 47.96, a price-to-earnings-growth ratio of 3.18 and a beta of 0.97. Global Water Resources has a fifty-two week low of $9.34 and a fifty-two week high of $13.42.

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

About Global Water Resources

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.