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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Monday, March 31st, Wall Street Journal reports. Investors of record on Wednesday, April 16th will be paid a dividend of 0.0253 per share by the utilities provider on Wednesday, April 30th. This represents a $0.30 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Wednesday, April 16th.

Global Water Resources has increased its dividend payment by an average of 1.0% annually 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 tumble. 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 Trading Down 1.4 %

NASDAQ:GWRS traded down $0.15 on Wednesday, hitting $10.21. 55,973 shares of the stock were exchanged, compared to its average volume of 26,910. The stock has a fifty day moving average of $11.28 and a 200-day moving average of $12.02. The stock has a market cap of $247.35 million, a PE ratio of 37.81, a PEG ratio of 2.53 and a beta of 1.01. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 2.47. Global Water Resources has a fifty-two week low of $9.79 and a fifty-two week high of $13.98.

Global Water Resources (NASDAQ:GWRS) last posted its earnings results on Wednesday, March 5th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Global Water Resources had a return on equity of 14.23% and a net margin of 12.52%. The business had revenue of $13.29 million for the quarter, compared to analyst estimates of $12.70 million. As a group, equities analysts expect that Global Water Resources will post 0.28 earnings per share for the current fiscal year.

Insider Transactions at Global Water Resources

In other Global Water Resources news, Director Andrew M. Cohn bought 252,000 shares of Global Water Resources stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average price of $10.00 per share, for a total transaction of $2,520,000.00. Following the acquisition, the director now owns 2,379,899 shares of the company’s stock, valued at $23,798,990. The trade was a 11.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 54.86% of the company’s stock.

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.