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

Key Points

• Global Water Resources declared a $0.0253-per-share monthly dividend, payable August 31 to shareholders of record August 17. The dividend implies an annualized payout of approximately $0.30 per share and a 3.5% yield.
• The dividend appears financially strained: the company’s payout ratio is 107.1%, while analysts expect a future payout ratio of 272.7% based on projected earnings of $0.11 per share.
• Global Water Resources recently beat quarterly earnings expectations, reporting $0.04 per share versus the $0.03 consensus, with revenue of $17.77 million compared with estimates of $14.93 million.

Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) announced a monthly dividend on Friday, July 31st. Investors of record on Monday, August 17th will be given a dividend of 0.0253 per share by the utilities provider on Monday, August 31st. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, August 17th.

Global Water Resources has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Global Water Resources has a dividend payout ratio of 107.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Global Water Resources to earn $0.11 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 272.7%.

Global Water Resources Stock Down 3.3%

Shares of GWRS stock opened at $8.60 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59. Global Water Resources has a twelve month low of $6.55 and a twelve month high of $11.17. The stock has a 50 day moving average of $7.23 and a 200 day moving average of $7.63. The stock has a market cap of $247.64 million, a P/E ratio of 78.19 and a beta of 0.91.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last posted its earnings results on Wednesday, August 12th. The utilities provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Global Water Resources had a net margin of 5.22% and a return on equity of 3.03%. The firm had revenue of $17.77 million during the quarter, compared to analyst estimates of $14.93 million. As a group, sell-side analysts expect that Global Water Resources will post 0.08 EPS for the current year.

About Global Water Resources

Global Water Resources, Inc NASDAQ: GWRS is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.

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