Global Water Resources Inc (GWRS) to Issue Monthly Dividend of $0.02 on December 28th
Global Water Resources Inc (NASDAQ:GWRS) announced a monthly dividend on Friday, November 9th, Wall Street Journal reports. Shareholders of record on Friday, December 14th will be given a dividend of 0.0239 per share by the utilities provider on Friday, December 28th. This represents a $0.29 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Thursday, December 13th. This is a positive change from Global Water Resources’s previous monthly dividend of $0.02.
Global Water Resources has a dividend payout ratio of 152.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Global Water Resources to earn $0.16 per share next year, which means the company may not be able to cover its $0.29 annual dividend with an expected future payout ratio of 181.3%.
Shares of Global Water Resources stock opened at $10.15 on Friday. The firm has a market capitalization of $218.36 million, a PE ratio of 56.50, a price-to-earnings-growth ratio of 3.99 and a beta of -0.24. Global Water Resources has a 12 month low of $8.40 and a 12 month high of $11.61. The company has a debt-to-equity ratio of 3.89, a quick ratio of 2.30 and a current ratio of 2.30.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Global Water Resources from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, November 13th. ValuEngine raised shares of Global Water Resources from a “hold” rating to a “buy” rating in a report on Thursday, September 27th. Finally, TheStreet cut shares of Global Water Resources from a “b-” rating to a “c+” rating in a report on Monday, November 5th.
In other Global Water Resources news, Director Debra Coy bought 4,126 shares of the business’s stock in a transaction dated Thursday, September 20th. The shares were acquired at an average cost of $10.05 per share, with a total value of $41,466.30. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 4,430 shares of company stock worth $44,520 over the last ninety days. Corporate insiders own 50.00% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.watchlistnews.com/global-water-resources-inc-gwrs-to-issue-monthly-dividend-of-0-02-on-december-28th/2670271.html.
Global Water Resources Company Profile
Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2017, it served approximately 51,000 people in approximately 20,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
Featured Article: Insider Trading – What You Need to Know
Receive News & Ratings for Global Water Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Water Resources and related companies with MarketBeat.com's FREE daily email newsletter.