Welcome to our dedicated page for Artesian Res news (Ticker: ARTNA), a resource for investors and traders seeking the latest updates and insights on Artesian Res stock.
Artesian Resources Corporation (ARTNA) operates as a regulated water and wastewater utility serving Delaware communities. This news page tracks regulatory filings, rate case proceedings, quarterly financial reports, infrastructure projects, and service territory developments for the Newark-based utility founded in 1905.
As a regulated public utility, Artesian Resources generates news primarily through interactions with the Delaware Public Service Commission. Rate increase applications, service territory expansions, and infrastructure investment plans require regulatory approval and public notice. These filings provide insight into the company's capital needs, customer growth patterns, and operational challenges.
Quarterly earnings announcements reveal the utility's financial performance including revenue trends, customer additions, water usage patterns, and operating expenses. Dividend declarations signal the company's cash flow stability and shareholder return policies. Board appointments and management changes indicate governance developments at the utility.
Infrastructure-related news may include treatment plant upgrades, water main replacements, and system expansion projects. Environmental compliance matters, water quality incidents, and regulatory enforcement actions occasionally generate material disclosures. Acquisition announcements appear when the company pursues smaller water systems within or adjacent to its service territory.
This page provides real-time updates on material events affecting Artesian Resources. Track the regulatory proceedings, financial results, and operational developments that influence this Delaware water utility's business and its ability to serve customers while generating returns for investors.
Artesian Water Company, a subsidiary of Artesian Resources (NASDAQ: ARTNA), has filed an application with the Delaware Public Service Commission for a 12.41% rate increase, seeking approximately $10.8 million in additional annual revenue. The effective rate increase would be 10.75% after resetting the current 1.66% Distribution System Improvement Charge.
The rate adjustment aims to recover over $58.5 million in utility plant investments made since October 2023 through September 2025. Key investments include PFAS treatment systems at fourteen facilities and infrastructure upgrades to aging facilities and pipelines dating 50-75 years old. The company cites rising operational costs, particularly in electric power and PFAS filter media maintenance.
If approved, the average residential customer using 4,000 gallons monthly would see their bill increase from $52.94 to $59.76, representing an additional $0.23 per day.
Artesian Resources (ARTNA) reported strong financial results for 2024, with net income reaching $20.4 million, a 22.1% increase from 2023. The company's revenues totaled $108.0 million, up 9.2% year-over-year, with diluted EPS of $1.98 compared to $1.67 in 2023.
Water sales revenue increased by $8.0 million (10.1%), primarily due to a rate increase effective November 28, 2023, increased water consumption, and customer base growth. The company invested $45.9 million in infrastructure projects during 2024, focusing on facility relocation, aging infrastructure rehabilitation, and wastewater treatment plant construction.
Operating expenses increased by $4.1 million (7.3%), mainly due to higher utility operating costs, including supply and treatment, payroll, and employee benefits. The company's financial results benefited from the Delaware Public Service Commission's settlement of their 2023 rate filing to recover water utility plant investments.
Artesian Resources (ARTNA) has announced its Board of Directors has declared a regular quarterly dividend of $0.3014 per share on both Class A and Class B Common Stock. The dividend will be paid on February 21, 2025, to shareholders of record as of February 7, 2025. This payment represents an annualized dividend rate of $1.2056 and marks the company's 129th consecutive quarterly dividend distribution to shareholders.
Artesian Resources (ARTNA) has announced a 2% increase in its quarterly common stock dividend, marking the second increase this year for a total annual increase of 4%. The new quarterly dividend of $0.3014 per share on Class A and Class B Common Stock raises the annualized dividend rate to $1.2056 per share. The dividend is payable November 25, 2024, to shareholders of record as of November 15, 2024. This represents the company's 128th consecutive quarterly dividend payment to shareholders.
Artesian Resources (ARTNA) reported strong Q3 2024 results with net income of $6.8 million, up 34.4% year-over-year. Revenues increased 9.7% to $29.1 million, driven by a 11.3% rise in water sales revenue following a 15.2% rate increase approved by Delaware regulators. The company's year-to-date performance showed net income of $16.5 million, up 25.2%, with revenues reaching $81.1 million, a 9.1% increase. Capital expenditures of $30.9 million were invested in infrastructure projects during the first nine months of 2024, focusing on water quality initiatives and system improvements.
Artesian Resources (Nasdaq: ARTNA) reported strong financial results for Q2 and H1 2024. Key highlights include:
- Q2 net income increased 19.9% to $5.3 million
- Q2 diluted EPS rose 18.2% to $0.52
- Q2 revenues grew 8.6% to $27.4 million
- H1 net income up 19.5% to $9.7 million
- H1 diluted EPS increased 13.1% to $0.95
- H1 revenues rose 8.8% to $52.0 million
The company benefited from a rate increase, customer growth, and increased water consumption due to warmer weather. Artesian invested $18.4 million in infrastructure projects during H1 2024, focusing on PFAS treatment, facility upgrades, and expanding water and wastewater services.
Artesian Resources (Nasdaq: ARTNA) has announced a regular quarterly dividend on its Class A and Class B Common Stock. The Board of Directors has declared a dividend of $0.2955 per share, payable on August 27, 2024, to shareholders of record at the close of business on August 16, 2024. This dividend provides an annualized dividend of $1.182 per share. Notably, this marks Artesian's 127th consecutive quarterly dividend paid to shareholders, demonstrating the company's commitment to providing consistent returns to its investors.
Artesian Resources (Nasdaq: ARTNA) announced that their Annual Charitable Golf Outing raised nearly $135,000, bringing the total funds raised over the last thirteen years to $875,000.
The event, held on June 3rd at the DuPont Country Club in Wilmington, Delaware, saw participation from over 175 golfers representing Artesian’s vendors and business partners.
Major sponsors included AssuredPartners, Austin & Bednash Construction, Core & Main, Eagle Control , Ferguson Waterworks, Klenzoid, McWane Waterworks, Metra Industries, Pureflow Filtration, Technivate, and Tri-State Underground.
Beneficiaries of the funds include the Delaware Nature Society and Ray of Hope Mission Center, among others. Artesian’s leadership expressed pride in the event's success and emphasized the importance of supporting local charities.
Artesian Resources (Nasdaq: ARTNA) has announced a 2% increase in the quarterly dividend per share on its Class A and Class B Common Stock, raising the annualized dividend to $1.182 per share. The quarterly dividend rate of $0.2955 per share will be payable on May 28, 2024, to shareholders of record as of May 17, 2024. This marks the company's 126th consecutive quarterly dividend paid and 28th consecutive year of increased dividends, showcasing its commitment to shareholder value.
Artesian Resources (ARTNA) reported strong first-quarter 2024 results with net income reaching $4.4 million, a 19.1% increase from the same period last year. Diluted net income per share rose by 10.3% to $0.43. Revenues totaled $24.5 million, a 9.1% increase year-over-year, driven by higher water sales revenue and other utility operating revenue. Despite increased operating expenses, the company remains focused on investing in infrastructure to maintain high-quality service standards.
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