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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Wednesday, November 26th. Shareholders of record on Tuesday, December 16th will be given a dividend of 0.0253 per share by the utilities provider on Tuesday, December 30th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, December 16th.

Global Water Resources has decreased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Global Water Resources has a payout ratio of 107.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 1.3%

GWRS stock opened at $8.55 on Thursday. The stock has a market capitalization of $245.81 million, a price-to-earnings ratio of 38.87 and a beta of 1.07. The company has a 50-day moving average of $9.94 and a two-hundred day moving average of $10.04. Global Water Resources has a 52-week low of $8.28 and a 52-week high of $13.68. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.09 and a quick ratio of 1.09.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings data on Wednesday, November 12th. The utilities provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). Global Water Resources had a return on equity of 9.67% and a net margin of 10.27%.The business had revenue of $15.52 million for the quarter, compared to analyst estimates of $15.20 million. As a group, equities research analysts anticipate that Global Water Resources will post 0.28 EPS for the current year.

Global Water Resources Company Profile

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.