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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Tuesday, April 1st, Wall Street Journal reports. Shareholders of record on Wednesday, April 16th will be given 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 increased its dividend 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 tumble. Equities 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 Performance

NASDAQ:GWRS opened at $10.36 on Wednesday. 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 stock has a 50 day simple moving average of $11.28 and a 200 day simple moving average of $12.02. Global Water Resources has a 1-year low of $9.79 and a 1-year high of $13.98. The stock has a market cap of $250.98 million, a P/E ratio of 38.37, a PEG ratio of 2.53 and a beta of 1.01.

Global Water Resources (NASDAQ:GWRS) last announced its earnings results on Wednesday, March 5th. The utilities provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $13.29 million for 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%. Research analysts anticipate that Global Water Resources will post 0.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Andrew M. Cohn purchased 252,000 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were purchased at an average price of $10.00 per share, for a total transaction of $2,520,000.00. Following the transaction, the director now owns 2,379,899 shares of the company’s stock, valued at approximately $23,798,990. This trade represents a 11.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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.