Global Water Resources, Inc. (GWRS) to Issue Monthly Dividend of $0.03 on November 30th

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Tuesday, November 3rd. Stockholders of record on Monday, November 16th will be given a dividend of $0.0253 per share by the utilities provider on Monday, November 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, November 16th.

Global Water Resources has decreased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Global Water Resources has a payout ratio of 107.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Water Resources to earn $0.13 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 230.8%.

Global Water Resources Price Performance

Shares of NASDAQ:GWRS opened at $8.15 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.62. Global Water Resources has a twelve month low of $6.55 and a twelve month high of $10.50. The stock’s 50 day moving average is $8.29 and its 200-day moving average is $7.87. The firm has a market capitalization of $234.68 million, a price-to-earnings ratio of 101.89 and a beta of 0.96.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings results on Tuesday, November 3rd. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $16.30 million during the quarter, compared to analyst estimates of $16.00 million. Global Water Resources had a net margin of 3.98% and a return on equity of 2.11%. Sell-side analysts forecast that Global Water Resources will post 0.09 EPS for the current fiscal year.

About Global Water Resources

Global Water Resources, Inc (NASDAQ: GWRS) is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities in Arizona. The company provides essential services to residential, commercial and industrial customers, including the delivery of potable water, collection and treatment of wastewater, and the production and distribution of recycled water.

Global Water Resources serves communities primarily in the Phoenix metropolitan area and other growing areas of central and southern Arizona.