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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Tuesday, April 1st, Wall Street Journal reports. Shareholders of record on Wednesday, April 16th will be given a dividend of 0.0253 per share by the utilities provider on Wednesday, April 30th. This represents a $0.30 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, April 16th.

Global Water Resources has increased its dividend by an average of 1.0% per year 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 fall. 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 Performance

Shares of Global Water Resources stock opened at $10.36 on Wednesday. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.62 and a quick ratio of 1.63. The firm has a market cap of $250.98 million, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. Global Water Resources has a one year low of $9.79 and a one year high of $13.98. The stock’s 50-day moving average is $11.28 and its 200-day moving average is $12.02.

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 analysts’ consensus estimates 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 analyst estimates of $12.70 million. Equities analysts predict that Global Water Resources will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Global Water Resources

In related news, Director Andrew M. Cohn purchased 252,000 shares of Global Water Resources stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average cost of $10.00 per share, with a total value of $2,520,000.00. Following the completion of the transaction, the director now owns 2,379,899 shares of the company’s stock, valued at approximately $23,798,990. This trade represents a 11.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 54.86% of the company’s stock.

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.