Connecticut Water Service, Inc. (NASDAQ:CTWS) declared a quarterly dividend on Tuesday, January 23rd, Wall Street Journal reports. Stockholders of record on Thursday, March 1st will be given a dividend of 0.2975 per share by the utilities provider on Thursday, March 15th. This represents a $1.19 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, February 28th.
Connecticut Water Service has increased its dividend by an average of 5.2% per year over the last three years and has raised its dividend annually for the last 48 consecutive years. Connecticut Water Service has a payout ratio of 55.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Connecticut Water Service to earn $2.19 per share next year, which means the company should continue to be able to cover its $1.19 annual dividend with an expected future payout ratio of 54.3%.
Connecticut Water Service (NASDAQ:CTWS) opened at $53.80 on Tuesday. Connecticut Water Service has a 52-week low of $50.56 and a 52-week high of $65.04. The company has a market capitalization of $647.10, a price-to-earnings ratio of 26.12, a PEG ratio of 4.07 and a beta of 0.01. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.14 and a current ratio of 1.18.
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About Connecticut Water Service
Connecticut Water Service, Inc is a non-operating holding company. The Company’s income is derived from the earnings of its subsidiary companies, including The Connecticut Water Company (Connecticut Water), The Maine Water Company (Maine Water), New England Water Utility Services, Inc (NEWUS),The Avon Water Company (AWC) and Chester Realty Company (Chester Realty).
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