Consolidated Water Co. Ltd. (NASDAQ:CWCO) announced a quarterly dividend on Monday, August 24th, Zacks reports. Shareholders of record on Thursday, October 1st will be paid a dividend of 0.085 per share by the utilities provider on Friday, October 30th. This represents a $0.34 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, September 30th.
Consolidated Water has raised its dividend by 13.3% over the last three years and has raised its dividend annually for the last 1 consecutive years. Consolidated Water has a dividend payout ratio of 81.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Consolidated Water to earn $0.62 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 54.8%.
Shares of NASDAQ CWCO opened at $10.74 on Tuesday. The company has a 50 day simple moving average of $11.73 and a two-hundred day simple moving average of $13.62. Consolidated Water has a 12 month low of $10.50 and a 12 month high of $18.83. The stock has a market cap of $162.41 million, a price-to-earnings ratio of 19.18, a PEG ratio of 2.17 and a beta of 0.08.
A number of research firms have weighed in on CWCO. Janney Montgomery Scott cut shares of Consolidated Water from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $17.00 to $14.00 in a research report on Tuesday, July 7th. TheStreet lowered shares of Consolidated Water from a “b” rating to a “c+” rating in a research note on Thursday, July 23rd.
In related news, Director Wilmer F. Pergande sold 2,657 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $12.14, for a total value of $32,255.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.79% of the stock is owned by company insiders.
About Consolidated Water
Consolidated Water Co Ltd., together with its subsidiaries, develops and operates seawater desalination plants and water distribution systems primarily in the Cayman Islands, the Bahamas, Indonesia, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.
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