Connecticut Water Service, Inc. to Issue Quarterly Dividend of $0.30 (CTWS)

Connecticut Water Service, Inc. (NASDAQ:CTWS) announced a quarterly dividend on Tuesday, January 23rd, Wall Street Journal reports. Investors of record on Thursday, March 1st will be paid a dividend of 0.2975 per share by the utilities provider on Thursday, March 15th. This represents a $1.19 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Wednesday, February 28th.

Connecticut Water Service has increased its dividend by an average of 5.2% per year over the last three years and has increased its dividend annually for the last 48 consecutive years. Connecticut Water Service has a dividend payout ratio of 55.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Connecticut Water Service to earn $2.19 per share next year, which means the company should continue to be able to cover its $1.19 annual dividend with an expected future payout ratio of 54.3%.

Shares of Connecticut Water Service (NASDAQ:CTWS) traded up $0.29 on Tuesday, hitting $52.62. The company had a trading volume of 23,381 shares, compared to its average volume of 46,614. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.18 and a quick ratio of 1.14. Connecticut Water Service has a 52-week low of $50.56 and a 52-week high of $65.04. The stock has a market capitalization of $633.46, a PE ratio of 25.79, a price-to-earnings-growth ratio of 4.02 and a beta of 0.09.

Connecticut Water Service (NASDAQ:CTWS) last issued its quarterly earnings results on Wednesday, November 8th. The utilities provider reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.02. Connecticut Water Service had a return on equity of 9.16% and a net margin of 22.00%. sell-side analysts predict that Connecticut Water Service will post 2.13 EPS for the current year.

Several brokerages recently commented on CTWS. BidaskClub cut Connecticut Water Service from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 6th. Zacks Investment Research cut Connecticut Water Service from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th.

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About Connecticut Water Service

Connecticut Water Service, Inc is a non-operating holding company. The Company’s income is derived from the earnings of its subsidiary companies, including The Connecticut Water Company (Connecticut Water), The Maine Water Company (Maine Water), New England Water Utility Services, Inc (NEWUS),The Avon Water Company (AWC) and Chester Realty Company (Chester Realty).

Dividend History for Connecticut Water Service (NASDAQ:CTWS)

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