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

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Wednesday, November 13th will be given a dividend of 0.025 per share by the utilities provider on Wednesday, November 27th. This represents a $0.30 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Wednesday, November 13th.

Global Water Resources has decreased its dividend payment by an average of 1.9% per year over the last three years. Global Water Resources has a payout ratio of 96.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Trading Down 0.7 %

Shares of GWRS opened at $12.40 on Friday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.86 and a current ratio of 1.86. Global Water Resources has a 52-week low of $9.60 and a 52-week high of $13.42. The firm has a market cap of $300.29 million, a price-to-earnings ratio of 47.69, a PEG ratio of 3.09 and a beta of 0.97. The business’s fifty day moving average is $12.59 and its 200-day moving average is $12.47.

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

About Global Water Resources

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.