California Water Service Group to Issue Quarterly Dividend of $0.30 (NYSE:CWT)

Key Points

• California Water Service Group has declared a quarterly dividend of $0.30 per share, with an annualized yield of 2.6%, payable on August 22nd to stockholders of record as of August 11th.
• The company reported $0.71 earnings per share for the last quarter, surpassing expectations by $0.25, and achieved a revenue of $264.95 million, which was above estimates.
• California Water Service Group has a current dividend payout ratio of 47.1% and is projected to maintain a future payout ratio of 51.7%, indicating a strong capacity to cover its annual dividend.

California Water Service Group (NYSE:CWT - Get Free Report) announced a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Shareholders of record on Monday, August 11th will be paid a dividend of 0.30 per share by the utilities provider on Friday, August 22nd. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 11th.

California Water Service Group has a payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect California Water Service Group to earn $2.32 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 51.7%.

California Water Service Group Trading Up 0.9%

CWT stock traded up $0.42 during midday trading on Monday, reaching $46.92. 33,407 shares of the company traded hands, compared to its average volume of 372,001. California Water Service Group has a 52-week low of $41.64 and a 52-week high of $56.25. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.50 and a current ratio of 0.53. The business has a 50 day moving average of $45.98 and a 200-day moving average of $46.70. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 2.25 and a beta of 0.66.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.25. The business had revenue of $264.95 million for the quarter, compared to the consensus estimate of $238.20 million. California Water Service Group had a return on equity of 8.28% and a net margin of 13.71%. The company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. As a group, sell-side analysts expect that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

About California Water Service Group

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection services.