Global Water Resources Inc (NASDAQ:GWRS) Plans Dividend Increase – $0.05 Per Share

Global Water Resources Inc (NASDAQ:GWRS) declared a monthly dividend on Monday, September 30th, Zacks reports. Stockholders of record on Thursday, October 17th will be paid a dividend of 0.048 per share by the utilities provider on Thursday, October 31st. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Wednesday, October 16th. This is a boost from Global Water Resources’s previous monthly dividend of $0.02.

Global Water Resources has a dividend payout ratio of 152.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Global Water Resources to earn $0.17 per share next year, which means the company may not be able to cover its $0.29 annual dividend with an expected future payout ratio of 170.6%.

Shares of GWRS stock opened at $11.81 on Wednesday. Global Water Resources has a 1 year low of $9.00 and a 1 year high of $13.33. The firm’s 50 day moving average is $11.98 and its 200-day moving average is $10.72. The firm has a market capitalization of $258.66 million, a price-to-earnings ratio of 78.73, a PEG ratio of 5.34 and a beta of 0.06. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 4.28.

Global Water Resources (NASDAQ:GWRS) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.04. Global Water Resources had a net margin of 5.73% and a return on equity of 7.03%. The company had revenue of $9.12 million for the quarter, compared to analyst estimates of $9.30 million. On average, equities research analysts forecast that Global Water Resources will post 0.15 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on GWRS shares. TheStreet upgraded shares of Global Water Resources from a “c” rating to a “b-” rating in a research report on Thursday, August 8th. BidaskClub lowered shares of Global Water Resources from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Zacks Investment Research lowered shares of Global Water Resources from a “buy” rating to a “hold” rating in a research report on Monday, August 12th.

About Global Water Resources

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2018, it served approximately 55,000 people in 21,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

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Dividend History for Global Water Resources (NASDAQ:GWRS)

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