Consolidated Water Co. Ltd. (NASDAQ:CWCO) announced a quarterly dividend on Tuesday, March 19th, NASDAQ reports. Stockholders of record on Monday, April 1st will be paid a dividend of 0.085 per share by the utilities provider on Tuesday, April 30th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, March 29th.
Consolidated Water has raised its dividend by an average of 4.3% annually over the last three years. Consolidated Water has a payout ratio of 54.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Consolidated Water to earn $0.76 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 44.7%.
Shares of CWCO stock traded up $0.06 during midday trading on Monday, reaching $12.60. 27,437 shares of the company were exchanged, compared to its average volume of 45,374. Consolidated Water has a 12 month low of $10.76 and a 12 month high of $15.00. The company has a market capitalization of $189.13 million, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 2.21 and a beta of 0.81.
In other news, Director Clarence B. Flowers sold 6,603 shares of Consolidated Water stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $13.50, for a total value of $89,140.50. Following the transaction, the director now directly owns 21,873 shares of the company’s stock, valued at $295,285.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wilmer F. Pergande sold 2,383 shares of Consolidated Water stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $12.78, for a total transaction of $30,454.74. Following the completion of the transaction, the director now directly owns 27,580 shares in the company, valued at $352,472.40. The disclosure for this sale can be found here. Insiders sold a total of 9,844 shares of company stock worth $130,852 over the last quarter. Insiders own 2.53% of the company’s stock.
A hedge fund recently raised its stake in Consolidated Water stock. Geode Capital Management LLC boosted its stake in Consolidated Water Co. Ltd. (NASDAQ:CWCO) by 18.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,653 shares of the utilities provider’s stock after purchasing an additional 8,344 shares during the quarter. Geode Capital Management LLC owned about 0.35% of Consolidated Water worth $613,000 at the end of the most recent reporting period. Institutional investors own 53.91% of the company’s stock.
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About Consolidated Water
Consolidated Water Co Ltd., together with its subsidiaries, develops and operates seawater desalination plants and water distribution systems in the Cayman Islands, The Bahamas, Belize, the British Virgin Islands, Mexico, the United States, and Indonesia. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.
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