Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) to Issue Annual Dividend of $0.28

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) announced an annual dividend on Thursday, April 18th, Wall Street Journal reports. Investors of record on Monday, April 29th will be paid a dividend of 0.2808 per share by the utilities provider on Friday, July 5th. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, April 26th. This is a positive change from Companhia de Saneamento Básico do Estado de São Paulo – SABESP’s previous annual dividend of $0.19.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a dividend payout ratio of 19.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Companhia de Saneamento Básico do Estado de São Paulo – SABESP to earn $1.19 per share next year, which means the company should continue to be able to cover its $0.27 annual dividend with an expected future payout ratio of 22.7%.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Performance

Companhia de Saneamento Básico do Estado de São Paulo – SABESP stock opened at $15.49 on Friday. The firm’s 50 day simple moving average is $16.02 and its 200 day simple moving average is $14.64. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $10.59 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 0.83 and a beta of 1.23. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 1-year low of $8.75 and a 1-year high of $17.14.

Institutional Investors Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

A number of institutional investors have recently made changes to their positions in SBS. Mercer Global Advisors Inc. ADV lifted its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 2.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 35,191 shares of the utilities provider’s stock worth $536,000 after purchasing an additional 794 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 12.1% during the second quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 953 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,995 shares of the utilities provider’s stock valued at $128,000 after purchasing an additional 1,381 shares during the last quarter. Citigroup Inc. grew its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 13.0% during the second quarter. Citigroup Inc. now owns 12,184 shares of the utilities provider’s stock valued at $144,000 after buying an additional 1,400 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.4% during the first quarter. Ameriprise Financial Inc. now owns 26,711 shares of the utilities provider’s stock valued at $267,000 after buying an additional 1,595 shares during the period. Hedge funds and other institutional investors own 10.62% of the company’s stock.

About Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Companhia de Saneamento Básico do Estado de São Paulo SABESP provides basic and environmental sanitation services in the São Paulo State, Brazil. The company supplies treated water and sewage services to residential, commercial, and industrial private customers, as well as public. As of December 31, 2022, it provided water services through 10.1 million water connections; and sewage services through 8.6 million sewage connections in 375 municipalities of the São Paulo State.