Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Thursday, December 31st, Wall Street Journal reports. Investors of record on Friday, January 15th will be given a dividend of 0.0243 per share by the utilities provider on Friday, January 29th. This represents a $0.29 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, January 14th. This is an increase from Global Water Resources’s previous monthly dividend of $0.02.
Global Water Resources has increased its dividend by 5.5% over the last three years and has increased its dividend annually for the last 5 consecutive years. Global Water Resources has a payout ratio of 241.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Global Water Resources to earn $0.12 per share next year, which means the company may not be able to cover its $0.29 annual dividend with an expected future payout ratio of 241.7%.
NASDAQ:GWRS opened at $16.43 on Wednesday. Global Water Resources has a 1 year low of $8.51 and a 1 year high of $17.28. The firm’s fifty day simple moving average is $14.66 and its 200 day simple moving average is $11.99. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 3.39. The firm has a market capitalization of $371.10 million, a PE ratio of 1,644.64, a PEG ratio of 8.80 and a beta of 0.57.
Several analysts have issued reports on GWRS shares. Zacks Investment Research lowered shares of Global Water Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, November 18th. ValuEngine lowered shares of Global Water Resources from a “buy” rating to a “hold” rating in a research report on Friday, December 18th. Finally, BidaskClub upgraded shares of Global Water Resources from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 8th.
About Global Water Resources
Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2019, it served approximately 61,000 people in 23,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
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