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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.0253 per share by the utilities provider on Monday, March 31st. This represents a $0.30 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Monday, March 17th.

Global Water Resources has increased its dividend payment by an average of 1.0% annually over the last three years. Global Water Resources has a dividend 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 fall. Equities research analysts expect Global Water Resources to earn $0.30 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 100.0%.

Global Water Resources Stock Up 0.5 %

GWRS stock opened at $11.30 on Friday. Global Water Resources has a fifty-two week low of $11.05 and a fifty-two week high of $13.98. The business’s 50-day moving average is $11.52 and its two-hundred day moving average is $12.19. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.63 and a current ratio of 1.62. The company has a market cap of $273.75 million, a price-to-earnings ratio of 41.85, a P/E/G ratio of 2.53 and a beta of 1.01.

Global Water Resources (NASDAQ:GWRS) last posted its earnings results on Wednesday, March 5th. The utilities provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The firm had revenue of $13.29 million during the quarter, compared to the consensus estimate of $12.70 million. Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. As a group, analysts forecast that Global Water Resources will post 0.28 earnings per share for the current 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.