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

Key Points

• Global Water Resources declared a monthly dividend of $0.0253 per share, payable October 30 to shareholders of record on October 16. The annualized dividend is $0.30 per share, yielding approximately 3.8%.
• The dividend may be financially unsustainable: the company’s payout ratio is already 107.1%, while analysts expect next year’s earnings of $0.13 per share against the $0.30 annual dividend.
• GWRS shares opened at $7.95, with a 12-month trading range of $6.55 to $11.17. In its latest quarter, the company reported EPS of $0.04 and revenue of $17.77 million, exceeding analyst expectations.

Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) announced a monthly dividend on Wednesday, September 30th. Stockholders of record on Friday, October 16th will be given a dividend of $0.0253 per share by the utilities provider on Friday, October 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, October 16th.

Global Water Resources has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 8 years. Global Water Resources has a dividend payout ratio of 107.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Global Water Resources to earn $0.13 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 230.8%.

Global Water Resources Price Performance

Global Water Resources stock opened at $7.95 on Thursday. The business's 50-day simple moving average is $8.31 and its 200 day simple moving average is $7.63. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.62. The stock has a market cap of $228.96 million, a price-to-earnings ratio of 72.28 and a beta of 0.93. Global Water Resources has a 12-month low of $6.55 and a 12-month high of $11.17.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last issued its earnings results on Thursday, August 13th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $17.77 million for the quarter, compared to analyst estimates of $14.93 million. Global Water Resources had a net margin of 5.22% and a return on equity of 3.05%. As a group, research analysts anticipate that Global Water Resources will post 0.09 earnings per share for the current year.

Global Water Resources Company Profile

Global Water Resources, Inc NASDAQ: GWRS is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities. The company serves residential, commercial and industrial customers, providing essential services such as water production and distribution, wastewater collection and treatment, and water reuse.

Headquartered in Arizona, Global Water Resources primarily operates in the Phoenix metropolitan area and surrounding growth corridors.

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