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

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Monday, September 30th, Zacks reports. Stockholders of record on Thursday, October 17th will be given a dividend of 0.025 per share by the utilities provider on Thursday, October 31st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Thursday, October 17th.

Global Water Resources has decreased its dividend by an average of 1.9% per year 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 tumble. Equities 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 Stock Performance

Global Water Resources stock opened at $12.59 on Tuesday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 2.53. The firm has a 50-day moving average of $12.53 and a 200-day moving average of $12.49. The firm has a market cap of $304.38 million, a P/E ratio of 48.42, a P/E/G ratio of 3.18 and a beta of 0.97. Global Water Resources has a 1-year low of $9.34 and a 1-year high of $13.42.

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