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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Wednesday, November 13th will be paid a dividend of 0.025 per share by the utilities provider on Wednesday, November 27th. This represents a $0.30 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Wednesday, November 13th.

Global Water Resources has decreased its dividend payment by an average of 1.9% per year over the last three years. Global Water Resources has a 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 decline. Research 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 Price Performance

Shares of Global Water Resources stock traded up $0.05 on Friday, hitting $12.54. The company had a trading volume of 410 shares, compared to its average volume of 23,570. Global Water Resources has a 52 week low of $9.60 and a 52 week high of $13.42. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.86 and a quick ratio of 1.86. The company has a market cap of $303.72 million, a PE ratio of 48.04, a PEG ratio of 3.09 and a beta of 0.97. The business has a 50-day simple moving average of $12.58 and a 200-day simple moving average of $12.47.

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