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

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Friday, August 30th, Zacks reports. Investors of record on Monday, September 16th will be given a dividend of 0.025 per share by the utilities provider on Monday, September 30th. This represents a $0.30 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Monday, September 16th.

Global Water Resources has decreased its dividend payment by an average of 1.9% annually 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 fall. 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

NASDAQ:GWRS opened at $12.69 on Friday. The business has a 50 day moving average of $12.33 and a 200 day moving average of $12.48. The company has a market capitalization of $307.35 million, a price-to-earnings ratio of 48.81, a PEG ratio of 3.13 and a beta of 0.98. Global Water Resources has a 1-year low of $9.34 and a 1-year high of $13.42. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.86 and a quick ratio of 1.86.

Global Water Resources (NASDAQ:GWRS) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The firm had revenue of $13.51 million during the quarter, compared to the consensus estimate of $13.60 million. Global Water Resources had a return on equity of 13.45% and a net margin of 11.91%. During the same quarter in the previous year, the firm earned $0.07 EPS. On average, sell-side analysts predict that Global Water Resources will post 0.27 earnings per share 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.