Artesian Resources Corporation announces a 3% increase in Common Stock Dividend

Rhea-AI Summary

Artesian Resources Corporation (NASDAQ: ARTNA) announced a 3% increase in its Class A and Class B Common Stock dividend, raising the annual dividend to $1.0284 per share. The quarterly dividend of $0.2571 will be paid on November 20, 2020, to shareholders on record by November 9, 2020. This marks the 24th consecutive year of dividend increases and the 112th consecutive quarterly dividend. The CEO expressed confidence in expanding business operations while maintaining strong financial results, aiming to continue delivering returns to shareholders.

Positive

• Dividend increased by 3% to $1.0284 per share.
• Quarterly dividend of $0.2571 payable on November 20, 2020.
• 24th consecutive year of dividend increases.
• 112 consecutive quarters of dividend payments.
• Expansion of water and wastewater services indicates growth potential.

Negative

• None.

NEWARK, Del., Sept. 25, 2020 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (NASDAQ: ARTNA) announced today that its Board of Directors has approved a 3% increase in the company’s Class A and Class B Common Stock dividend, raising the annual dividend to $1.0284 per share. The quarterly dividend of $0.2571 is payable November 20, 2020 to shareholders of record at the close of business on November 9, 2020.

“We are pleased to announce this 3% dividend increase. Our Artesian team continues to work diligently to expand our water and wastewater businesses significantly, while generating strong financial results. We look forward to continuing our successful acquisitions, growing our customer base and increasing our revenues to provide consistent returns to our shareholders,” said Dian C. Taylor, Chair, President and CEO.

Artesian Resources has now paid quarterly dividends to its shareholders for 112 consecutive quarters and for the 24^th consecutive year has increased dividends.

About Artesian Resources

Artesian Resources Corporation operates as a holding company of wholly-owned subsidiaries offering water and wastewater services, and related services, on the Delmarva Peninsula. Artesian Water Company, the principal subsidiary, is the oldest and largest regulated water utility on the Delmarva Peninsula and has been providing water service since 1905. Artesian supplies 8.3 billion gallons of water per year through 1,331miles of main to over 300,000 people.

Contact:
Nicholle Taylor
Investor Relations
(302) 453-6900
ntaylor@artesianwater.com

FAQ

What is the new annual dividend for ARTNA?

The new annual dividend for Artesian Resources Corporation (ARTNA) is $1.0284 per share.

When will the quarterly dividend be paid to ARTNA shareholders?

The quarterly dividend of $0.2571 will be paid on November 20, 2020.

How long has ARTNA been increasing its dividends?

Artesian Resources has increased its dividends for 24 consecutive years.

How many consecutive quarterly dividends has ARTNA paid?

Artesian Resources has paid dividends for 112 consecutive quarters.

What is the record date for the upcoming dividend payment?

The record date for the upcoming dividend payment is November 9, 2020.