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

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Friday, July 31st. Shareholders of record on Monday, August 17th will be paid a dividend of 0.0253 per share by the utilities provider on Monday, August 31st. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, August 17th.

Global Water Resources has decreased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Global Water Resources has a payout ratio of 107.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Global Water Resources to earn $0.11 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 272.7%.

Global Water Resources Stock Performance

NASDAQ GWRS opened at $8.60 on Friday. The stock has a 50-day simple moving average of $7.23 and a two-hundred day simple moving average of $7.63. The firm has a market capitalization of $247.64 million, a P/E ratio of 78.19 and a beta of 0.91. Global Water Resources has a fifty-two week low of $6.55 and a fifty-two week high of $11.17. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.68 and a current ratio of 0.68.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data on Wednesday, August 12th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. Global Water Resources had a return on equity of 3.03% and a net margin of 5.22%.The business had revenue of $17.77 million during the quarter, compared to analysts’ expectations of $14.93 million. On average, equities analysts forecast that Global Water Resources will post 0.08 earnings per share for the current year.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.