Bitcoin price today: struggles at $111k as trade tensions, risk aversion weigh
PHOENIX - Global Water Resources, Inc. (NASDAQ: GWRS), a company specializing in water resource management with a market capitalization of $249 million, announced a monthly cash dividend of $0.02533 per common share, which equates to an annual rate of $0.30396 per share, yielding 2.96%. According to InvestingPro, the company has raised its dividend for nine consecutive years. Shareholders on record by April 16, 2025, will receive the dividend on April 30, 2025.
The company operates 32 systems that provide water, wastewater, and recycled water services, mainly in the Phoenix and Tucson growth corridors. With impressive gross profit margins of 74%, Global Water has recycled over 17.7 billion gallons of water since 2004, including more than 1 billion gallons annually. Its Total Water Management (TWM) approach, which involves managing all aspects of the water cycle within a single geographic area, has garnered industry accolades for its effectiveness in water conservation and management. Currently trading near its 52-week low of $9.79, analysts see significant upside potential with price targets ranging from $15 to $18.
Global Water’s TWM strategy includes the use of advanced technologies such as remote metering infrastructure, which supports conservation efforts in areas with scarce water resources and growing populations. The company’s commitment to sustainable water management has led to several awards, including the ’Utility of the Future Today’ recognition for its water reuse practices and the Cityworks™ Excellence in Departmental Practice Award for its asset management strategies.
This dividend announcement is based on a press release statement from Global Water Resources.
In other recent news, Global Water Resources Inc. reported its fourth-quarter 2024 earnings, revealing that while earnings per share (EPS) fell short of expectations at $0.04 compared to the projected $0.06, the company exceeded revenue forecasts with $13.29 million against an anticipated $12.7 million. The company also announced a public stock offering, pricing 2.8 million shares at $10.00 each, aiming to raise approximately $28 million for acquisitions, working capital, and other corporate purposes. Roth Capital Partners and Janney Montgomery Scott are the underwriters for this offering. Additionally, Global Water Resources has filed applications with the Arizona Corporation Commission for rate increases for two subsidiaries, which could potentially result in a net annual revenue increase of $6.5 million. If approved, these rate hikes would be implemented in two phases, starting in May 2026. The company continues to focus on expanding its infrastructure investments and maintains a strategic position in Arizona’s growing markets. The recent developments reflect Global Water Resources’ ongoing efforts to strengthen its financial standing and operational capabilities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.