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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Tuesday, April 1st, 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 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, April 16th.

Global Water Resources has raised its dividend payment by an average of 1.0% per year over the last three years. Global Water Resources has a dividend 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 decline. 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 Price Performance

Shares of Global Water Resources stock traded up $0.05 on Tuesday, hitting $10.36. The company’s stock had a trading volume of 69,029 shares, compared to its average volume of 26,854. The company has a quick ratio of 1.63, a current ratio of 1.62 and a debt-to-equity ratio of 2.47. The firm has a fifty day moving average price of $11.31 and a 200-day moving average price of $12.04. Global Water Resources has a 52-week low of $9.79 and a 52-week high of $13.98. The company has a market capitalization of $250.98 million, a P/E ratio of 38.37, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01.

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

Insider Activity

In other Global Water Resources news, Director Andrew M. Cohn purchased 252,000 shares of Global Water Resources stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $10.00 per share, with a total value of $2,520,000.00. Following the purchase, the director now directly owns 2,379,899 shares in the company, valued at $23,798,990. This trade represents a 11.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.