Global Water Resources increases dividend by 1%, showing strong performance

From Nasdaq: 2024-11-28 12:02:00

Global Water Resources Inc. (GWRS) has increased its dividend by 1%, now at 2.533 cents per share. This is payable on Dec. 30, 2024, to stockholders of record as of Dec. 16, 2024. The annualized dividend is now 30.396 cents per share with a current yield of 2.3%.

Global Water Resources implements Total Water Management, recycling billions of gallons of water annually. Investments in new initiatives have led to exceptional performance and cash flow. The company aims to increase long-term investments in existing utilities for improved revenues and reduced expenses. Active connections have surged 4.7% year-over-year.

Utility companies like Entergy Corporation (ETR), IDACORP Inc. (IDA), and American States Water Company (AWR) have raised their quarterly dividend rates. ETR’s 2024 EPS is expected to improve by 6.7%, with a current yield of 3.07%. IDA’s 2024 EPS is projected to rise by 5.3%, with a yield of 2.9%. AWR’s 2024 EPS is estimated to increase by 6%, with a yield of 2.18%.

Global Water Resources’ stock has risen 6.7% in the past three months, outperforming the industry’s decline of 1.2%. The company currently holds a Zacks Rank #3 (Hold). With increasing organic growth and strong performance, GWRS is well-positioned to sustain shareholder-friendly initiatives in the future.



Read more at Nasdaq: Global Water Resources Boosts Shareholder Value With 1% Dividend Hike