Global Water Resources, Inc. (GWRS) To Go Ex-Dividend on April 16th

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Monday, March 31st, Wall Street Journal reports. Stockholders of record on Wednesday, April 16th will be paid a dividend of 0.0253 per share by the utilities provider on Wednesday, April 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Wednesday, April 16th.

Global Water Resources has raised its dividend payment by an average of 1.0% per year over the last three years. Global Water Resources has a dividend payout ratio of 96.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Global Water Resources to earn $0.30 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 100.0%.

Global Water Resources Stock Performance

Shares of NASDAQ:GWRS traded down $0.15 during midday trading on Wednesday, hitting $10.21. The stock had a trading volume of 55,973 shares, compared to its average volume of 26,910. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 2.47. The stock has a 50 day moving average price of $11.28 and a two-hundred day moving average price of $12.02. Global Water Resources has a 1 year low of $9.79 and a 1 year high of $13.98. The company has a market capitalization of $247.35 million, a PE ratio of 37.81, a P/E/G ratio of 2.53 and a beta of 1.01.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings data on Wednesday, March 5th. The utilities provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Global Water Resources had a return on equity of 14.23% and a net margin of 12.52%. The company had revenue of $13.29 million for the quarter, compared to analysts’ expectations of $12.70 million. As a group, equities analysts predict that Global Water Resources will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Andrew M. Cohn bought 252,000 shares of Global Water Resources stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average price of $10.00 per share, with a total value of $2,520,000.00. Following the purchase, the director now owns 2,379,899 shares in the company, valued at $23,798,990. This represents a 11.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 54.86% of the company’s stock.

About Global Water Resources

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.