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

Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) 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 dividend yield of 3.11%. The ex-dividend date of this dividend is Wednesday, April 16th.

Global Water Resources has increased its dividend by an average of 1.0% annually over the last three years. Global Water Resources has a dividend payout ratio of 96.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. 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

Global Water Resources stock traded down $0.16 during mid-day trading on Friday, hitting $9.77. The stock had a trading volume of 71,100 shares, compared to its average volume of 27,392. Global Water Resources has a one year low of $9.64 and a one year high of $13.98. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 2.47. The firm has a market capitalization of $264.04 million, a P/E ratio of 36.19, a P/E/G ratio of 2.53 and a beta of 1.01. The firm's 50 day moving average is $11.16 and its 200 day moving average is $11.96.

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Global Water Resources (NASDAQ:GWRS - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $12.70 million. Global Water Resources had a return on equity of 14.23% and a net margin of 12.52%. On average, sell-side analysts forecast that Global Water Resources will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Andrew M. Cohn acquired 252,000 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was purchased at an average price of $10.00 per share, for a total transaction of $2,520,000.00. Following the completion of the transaction, the director now directly owns 2,379,899 shares in the company, valued at approximately $23,798,990. This trade represents a 11.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 54.86% of the company's stock.

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.