Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS) Announces Annual Dividend of $0.28

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Get Free Report) announced an annual dividend on Friday, April 19th, Wall Street Journal reports. Investors of record on Monday, April 29th will be given a dividend of 0.2808 per share by the utilities provider on Friday, July 5th. This represents a yield of 1.4%. The ex-dividend date is Friday, April 26th. This is a boost from Companhia de Saneamento Básico do Estado de São Paulo - SABESP's previous annual dividend of $0.19.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP has a dividend payout ratio of 19.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Companhia de Saneamento Básico do Estado de São Paulo - SABESP to earn $1.19 per share next year, which means the company should continue to be able to cover its $0.27 annual dividend with an expected future payout ratio of 22.7%.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP Trading Down 1.6 %

NYSE SBS traded down $0.25 during trading hours on Friday, hitting $15.49. 4,518,908 shares of the company's stock were exchanged, compared to its average volume of 906,130. The stock has a 50-day simple moving average of $16.02 and a 200 day simple moving average of $14.64. Companhia de Saneamento Básico do Estado de São Paulo - SABESP has a 1-year low of $8.75 and a 1-year high of $17.14. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 0.82 and a beta of 1.23. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55.

Institutional Investors Weigh In On Companhia de Saneamento Básico do Estado de São Paulo - SABESP

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 76.1% in the fourth quarter. Wellington Management Group LLP now owns 41,226 shares of the utilities provider's stock valued at $628,000 after acquiring an additional 17,817 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 2.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 35,191 shares of the utilities provider's stock valued at $536,000 after acquiring an additional 794 shares during the period. Partners Group Holding AG acquired a new stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the fourth quarter valued at approximately $221,000. Perpetual Ltd grew its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 3.3% in the fourth quarter. Perpetual Ltd now owns 573,390 shares of the utilities provider's stock valued at $8,733,000 after acquiring an additional 18,449 shares during the period. Finally, OLD Mission Capital LLC acquired a new stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the fourth quarter valued at approximately $176,000. Institutional investors and hedge funds own 10.62% of the company's stock.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP Company Profile

Companhia de Saneamento Básico do Estado de São Paulo SABESP provides basic and environmental sanitation services in the São Paulo State, Brazil. The company supplies treated water and sewage services to residential, commercial, and industrial private customers, as well as public. As of December 31, 2022, it provided water services through 10.1 million water connections; and sewage services through 8.6 million sewage connections in 375 municipalities of the São Paulo State.