Consolidated Water Co. Ltd. (NASDAQ:CWCO) Plans Quarterly Dividend of $0.14

Key Points

• Consolidated Water declared a quarterly dividend of $0.14 per share, payable October 30 to shareholders of record October 1. The annualized dividend is $0.56 per share, yielding approximately 1.9%.
• The dividend appears well covered, with a current payout ratio of 35.0%; analysts expect next year’s earnings of $1.41 per share, implying a projected payout ratio of 39.7%.
• CWCO shares fell 0.7% to $29.49. In its latest quarter, the company reported adjusted earnings of $0.25 per share and revenue of $32.87 million, both above analyst expectations.

Consolidated Water Co. Ltd. (NASDAQ:CWCO - Get Free Report) announced a quarterly dividend on Thursday, August 20th. Investors of record on Thursday, October 1st will be given a dividend of 0.14 per share by the utilities provider on Friday, October 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Thursday, October 1st.

Consolidated Water has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 2 years. Consolidated Water has a payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Consolidated Water to earn $1.41 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 39.7%.

Consolidated Water Stock Down 0.7%

Shares of CWCO traded down $0.20 during trading hours on Thursday, reaching $29.49. The stock had a trading volume of 63,825 shares, compared to its average volume of 114,978. The company has a market cap of $472.13 million, a P/E ratio of 35.53 and a beta of 0.51. Consolidated Water has a 52 week low of $28.17 and a 52 week high of $39.12. The firm has a 50-day moving average of $29.66 and a 200 day moving average of $32.18.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last posted its earnings results on Monday, August 10th. The utilities provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. Consolidated Water had a return on equity of 7.23% and a net margin of 12.66%.The firm had revenue of $32.87 million for the quarter, compared to analyst estimates of $30.60 million. As a group, equities analysts expect that Consolidated Water will post 0.96 earnings per share for the current year.

Institutional Trading of Consolidated Water

Several hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new stake in Consolidated Water in the 1st quarter valued at approximately $1,241,000. Deutsche Bank AG grew its stake in shares of Consolidated Water by 242.5% during the 4th quarter. Deutsche Bank AG now owns 43,431 shares of the utilities provider's stock worth $1,533,000 after acquiring an additional 30,752 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Consolidated Water by 182.6% during the 3rd quarter. Lazard Asset Management LLC now owns 39,006 shares of the utilities provider's stock worth $1,376,000 after acquiring an additional 25,205 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Consolidated Water by 6.9% in the third quarter. Invesco Ltd. now owns 315,962 shares of the utilities provider's stock valued at $11,147,000 after purchasing an additional 20,264 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Consolidated Water by 139.6% in the third quarter. Two Sigma Investments LP now owns 33,844 shares of the utilities provider's stock valued at $1,194,000 after purchasing an additional 19,717 shares during the last quarter. Institutional investors and hedge funds own 55.16% of the company's stock.

Consolidated Water Company Profile

Consolidated Water Co Ltd. is a developer, operator and manufacturer of water treatment and desalination systems. The company designs, engineers, builds and operates reverse-osmosis desalination plants and water treatment facilities, offering both turnkey project delivery and ongoing operations and maintenance services. Its product portfolio includes modular desalination units, water distribution systems, filtration membranes and associated equipment for potable water production.

Consolidated Water serves municipalities, resorts, commercial enterprises and private customers in the Caribbean and the southeastern United States.

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