Consolidated Water Co. Ltd. (NASDAQ:CWCO) Announces $0.10 Quarterly Dividend

Consolidated Water Co. Ltd. (NASDAQ:CWCO) announced a quarterly dividend on Tuesday, February 20th, Zacks reports. Stockholders of record on Monday, April 1st will be given a dividend of 0.095 per share by the utilities provider on Tuesday, April 30th. This represents a $0.38 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, March 28th.

Consolidated Water has increased its dividend payment by an average of 1.9% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Consolidated Water has a payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Consolidated Water to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 30.6%.

Consolidated Water Stock Performance

NASDAQ:CWCO opened at $29.79 on Wednesday. The stock’s 50-day moving average is $30.22 and its 200-day moving average is $31.74. Consolidated Water has a 1-year low of $14.41 and a 1-year high of $38.29.

Institutional Trading of Consolidated Water

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Consolidated Water by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 314,069 shares of the utilities provider’s stock worth $11,181,000 after purchasing an additional 19,257 shares during the last quarter. Barclays PLC boosted its holdings in Consolidated Water by 685.0% in the fourth quarter. Barclays PLC now owns 20,653 shares of the utilities provider’s stock valued at $736,000 after acquiring an additional 18,022 shares during the last quarter. Voya Investment Management LLC bought a new stake in Consolidated Water in the fourth quarter valued at approximately $222,000. Nuveen Asset Management LLC boosted its holdings in Consolidated Water by 68.2% in the fourth quarter. Nuveen Asset Management LLC now owns 76,659 shares of the utilities provider’s stock valued at $2,729,000 after acquiring an additional 31,088 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Consolidated Water by 1.9% in the fourth quarter. Northern Trust Corp now owns 154,621 shares of the utilities provider’s stock valued at $5,505,000 after acquiring an additional 2,945 shares during the last quarter. 55.16% of the stock is currently owned by institutional investors.

Consolidated Water Company Profile

Consolidated Water Co Ltd., together with its subsidiaries, designs, constructs, manages, and operates water production and water treatment plants primarily in the Cayman Islands, the Bahamas, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.