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

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Tuesday, April 30th, Zacks reports. Investors of record on Friday, May 17th will be paid a dividend of 0.025 per share by the utilities provider on Friday, May 31st. This represents a $0.30 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, May 16th.

Global Water Resources has decreased its dividend payment by an average of 1.9% annually over the last three years and has increased its dividend every year for the last 7 years. Global Water Resources has a payout ratio of 88.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Global Water Resources to earn $0.34 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 88.2%.

Global Water Resources Price Performance

GWRS stock traded up $0.09 during trading on Thursday, hitting $12.56. The company had a trading volume of 1,333 shares, compared to its average volume of 24,657. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.16. The company has a market cap of $303.58 million, a P/E ratio of 37.79, a P/E/G ratio of 2.63 and a beta of 0.98. The company has a fifty day moving average price of $12.54 and a two-hundred day moving average price of $12.13. Global Water Resources has a fifty-two week low of $9.34 and a fifty-two week high of $13.43.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings data on Wednesday, March 6th. The utilities provider reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $12.37 million for the quarter, compared to analyst estimates of $12.00 million. Global Water Resources had a return on equity of 13.64% and a net margin of 15.05%. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Equities research analysts expect that Global Water Resources will post 0.31 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.