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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Friday, August 16th will be paid a dividend of 0.025 per share by the utilities provider on Friday, August 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, August 16th.

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 decline. Research 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 Stock Performance

Shares of GWRS opened at $12.83 on Friday. The stock’s 50-day simple moving average is $12.43 and its 200 day simple moving average is $12.50. The stock has a market capitalization of $310.23 million, a price-to-earnings ratio of 49.35, a price-to-earnings-growth ratio of 3.02 and a beta of 0.98. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.83 and a current ratio of 1.83. Global Water Resources has a 52-week low of $9.34 and a 52-week high of $13.42.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $11.61 million for the quarter, compared to analysts’ expectations of $11.50 million. Global Water Resources had a return on equity of 13.32% and a net margin of 12.05%. Research analysts forecast that Global Water Resources will post 0.28 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.