Global Water Resources, Inc. (GWRS) to Issue Monthly Dividend of $0.03 on March 31st

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Friday, February 28th, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.0253 per share by the utilities provider on Monday, March 31st. This represents a $0.30 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Monday, March 17th.

Global Water Resources has increased its dividend by an average of 1.0% annually over the last three years. Global Water Resources has a dividend payout ratio of 96.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Global Water Resources to earn $0.30 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 100.0%.

Global Water Resources Stock Up 0.5 %

Global Water Resources stock opened at $11.30 on Friday. Global Water Resources has a fifty-two week low of $11.05 and a fifty-two week high of $13.98. The stock has a market cap of $273.75 million, a PE ratio of 41.85, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The firm’s 50-day simple moving average is $11.52 and its 200 day simple moving average is $12.19. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.63 and a current ratio of 1.62.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings results on Wednesday, March 5th. The utilities provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). Global Water Resources had a return on equity of 14.23% and a net margin of 12.52%. The firm had revenue of $13.29 million for the quarter, compared to analysts’ expectations of $12.70 million. Research analysts predict that Global Water Resources will post 0.28 EPS for the current fiscal 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.