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

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Tuesday, April 1st, Wall Street Journal reports. Investors 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 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Trading Up 0.5 %

GWRS traded up $0.05 during trading on Tuesday, hitting $10.36. 69,029 shares of the company’s stock were exchanged, compared to its average volume of 26,854. Global Water Resources has a 1 year low of $9.79 and a 1 year high of $13.98. The stock has a 50 day moving average price of $11.31 and a 200 day moving average price of $12.04. The firm has a market cap of $250.98 million, a P/E ratio of 38.37, a price-to-earnings-growth 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.

Global Water Resources (NASDAQ:GWRS) last announced 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 business had revenue of $13.29 million for the quarter, compared to analysts’ expectations of $12.70 million. As a group, analysts expect that Global Water Resources will post 0.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Andrew M. Cohn bought 252,000 shares of Global Water Resources stock in a transaction dated Thursday, March 27th. The shares were acquired 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 in the company, valued at approximately $23,798,990. This trade represents a 11.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.