Global Water Resources, Inc. (NASDAQ:GWRS) to Issue Dividend Increase – $0.03 Per Share

Global Water Resources, Inc. (NASDAQ:GWRS) announced a dividend on Wednesday, November 27th,NASDAQ Dividends reports. Shareholders of record on Monday, December 16th will be paid a dividend of 0.0253 per share by the utilities provider on Monday, December 30th. The ex-dividend date is Monday, December 16th. This is a positive change from Global Water Resources’s previous dividend of $0.02.

Global Water Resources has decreased its dividend by an average of 1.9% per year over the last three years. Global Water Resources has a payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Stock Up 2.4 %

Shares of Global Water Resources stock traded up $0.32 during trading on Thursday, hitting $13.42. 31,892 shares of the stock were exchanged, compared to its average volume of 23,768. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.62 and a quick ratio of 1.63. The firm’s 50-day moving average price is $12.70 and its 200 day moving average price is $12.54. The stock has a market cap of $325.06 million, a price-to-earnings ratio of 49.70, a price-to-earnings-growth ratio of 3.16 and a beta of 0.96. Global Water Resources has a 12-month low of $11.41 and a 12-month high of $13.98.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Global Water Resources had a return on equity of 14.23% and a net margin of 12.52%. The company had revenue of $14.32 million during the quarter, compared to the consensus estimate of $14.65 million. During the same period in the previous year, the business earned $0.11 EPS. As a group, analysts forecast that Global Water Resources will post 0.28 earnings per share for the current fiscal year.

Global Water Resources Company Profile

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.