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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Friday, May 29th. Stockholders of record on Monday, June 15th will be paid a dividend of 0.0253 per share by the utilities provider on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, June 15th.

Global Water Resources has decreased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Global Water Resources has a dividend 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 $0.11 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 272.7%.

Global Water Resources Stock Down 1.5%

Shares of GWRS traded down $0.11 during midday trading on Friday, hitting $7.29. 143,936 shares of the company’s stock traded hands, compared to its average volume of 81,410. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $209.66 million, a price-to-earnings ratio of 104.14 and a beta of 0.92. Global Water Resources has a 1 year low of $6.55 and a 1 year high of $11.17. The firm’s fifty day moving average is $7.37 and its 200-day moving average is $8.19.

Global Water Resources (NASDAQ:GWRS) last announced its earnings results on Wednesday, May 13th. The utilities provider reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. Global Water Resources had a return on equity of 3.53% and a net margin of 3.53%.The firm had revenue of $13.29 million for the quarter, compared to the consensus estimate of $14.09 million. As a group, sell-side analysts anticipate that Global Water Resources will post 0.08 earnings per share for the current year.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.