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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Monday, March 17th.

Global Water Resources has raised its dividend payment by an average of 1.0% per year over the last three years. Global Water Resources has a dividend 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 tumble. 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 Performance

Shares of GWRS stock opened at $11.30 on Friday. The stock has a market capitalization of $273.75 million, a P/E ratio of 41.85, a PEG ratio of 2.53 and a beta of 1.01. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 2.47. The firm’s 50 day moving average is $11.52 and its 200 day moving average is $12.19. Global Water Resources has a 12 month low of $11.05 and a 12 month high of $13.98.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Wednesday, March 5th. The utilities provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $13.29 million for the quarter, compared to analysts’ expectations of $12.70 million. Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. On average, sell-side analysts anticipate that Global Water Resources will post 0.28 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.