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Artesian Resources Corp operates as a holding company with a focus on water distribution and wastewater services. Its regulated utility segment includes subsidiaries providing water and wastewater services in Delaware, Maryland, and Pennsylvania. Water distribution spans residential, commercial, industrial, and municipal sectors, while wastewater services are offered primarily in Sussex County, Delaware. The company also engages in non-utility businesses, offering service line protection plans, engineering services, and contract operations for water and wastewater systems. The regulated utility segment constitutes the largest portion of the company's operations, subject to regulations by Delaware, Maryland, and Pennsylvania.
Artesian Resources Corporation (Nasdaq: ARTNA) has appointed Nicholle R. Taylor as President of Artesian Water Company, effective August 16, 2021. With over 30 years at Artesian, Taylor has significant leadership experience, having served as Senior VP and COO. Dian C. Taylor, CEO, expressed confidence in her ability to drive growth. Taylor is involved in various industry organizations, highlighting her commitment to sustainable practices. Artesian, established in 1905, supplies 8.3 billion gallons of water annually to a third of Delawareans.
Artesian Wastewater Management launched full operations of its Sussex Regional Recharge Facility (SRRF), accepting treated effluent from Allen Harim to meet environmental regulations. This facility will initially recycle 1.5 million gallons daily, using innovative spray irrigation to benefit local agriculture. The project represents a $28 million investment with 9 miles of force mains. This initiative aims to improve groundwater quality and reduce wastewater discharge into local streams, affirming Artesian's commitment to environmental protection and local economic support.
Artesian Resources Corporation (Nasdaq: ARTNA) has declared a quarterly dividend of $0.2610 on its Class A and Class B Common Stock. This dividend will be payable on August 20, 2021 to shareholders recorded by the close of business on August 9, 2021. This announcement marks the company's 115th consecutive quarterly dividend, showcasing its commitment to returning value to shareholders. Artesian is a leading water utility on the Delmarva Peninsula, supplying 8.3 billion gallons of water annually through a vast network of pipelines.
Artesian Resources Corporation (Nasdaq: ARTNA) appointed Pierre A. Anderson as Chief Information Officer and Senior Vice President, effective May 5, 2021. Anderson has been with the company since 2006, progressing from Manager of Information Technology to his current role, bringing over 20 years of technology experience. He will oversee technology management, cybersecurity, and corporate strategic planning, contributing to Artesian's operational efficiency and community service. Artesian is the largest regulated water utility on the Delmarva Peninsula, supplying 8.3 billion gallons of water yearly.
Artesian Resources Corporation (Nasdaq: ARTNA) reported a net income of $4.2 million for Q1 2021, reflecting a 3.2% increase from Q1 2020. Diluted earnings per share rose 2.3% to $0.45. Revenues reached $20.7 million, a 4.2% increase driven by residential water sales and a 17.1% rise in wastewater revenue. The Board approved a 1.5% dividend increase, marking its 25th consecutive year of dividend hikes. Operating expenses rose 5.3%, primarily due to payroll and maintenance costs. Artesian invested $9.3 million in infrastructure, focusing on enhancing service capacity in Sussex County.
Artesian Resources Corporation (NASDAQ: ARTNA) has announced a 1.5% increase in its Class A and Class B Common Stock dividends, raising the annual dividend to $1.044 per share. The quarterly dividend of $0.2610 is payable on May 21, 2021, to shareholders who own shares as of May 7, 2021. This marks the company's 114th consecutive quarterly dividend and the 25th year of increased dividends. CEO Dian C. Taylor noted significant growth and strong financial results despite past challenges.
Artesian Resources Corporation (NASDAQ: ARTNA) has released its 2020 Annual Report, now available electronically on its website. Shareholders can request a print copy for free by contacting the company. Artesian provides essential water and wastewater services to over 300,000 customers on the Delmarva Peninsula, supplying 8.3 billion gallons of water annually through a network of 1,311 miles of main. This report reflects the company's ongoing commitment to transparency and service quality.
Artesian Resources Corporation (ARTNA) reported strong financial results for the year ended December 31, 2020. Earnings per share rose by 11.9% to $1.79, driven by 5.4% revenue growth totaling $88.1 million. The company increased its common stock dividend by 3% and achieved a net income of $16.8 million, reflecting a 12.7% increase year-over-year. Additionally, Artesian invested $40.0 million in infrastructure and completed two municipal water system acquisitions, serving approximately 3,000 new customers in Delaware.
Artesian Resources Corporation (Nasdaq: ARTNA) has announced the promotion of Rodney Wyatt to Vice President of Artesian Wastewater Management, Inc. With over 40 years of experience, Wyatt will lead crucial wastewater management initiatives, including a water recharge program that processes over 450 million gallons of wastewater annually. His background includes roles in Sussex County and the Delaware Department of Natural Resources. The company aims to strengthen strategic objectives under his leadership, promoting growth and partnerships in the water and wastewater fields.
Artesian Resources Corporation (NASDAQ: ARTNA) has declared a quarterly dividend of $0.2571 per share on its Class A and Class B Common Stock. This dividend will be payable on February 22, 2021, to shareholders on record as of February 8, 2021. The company has consistently paid dividends for 113 consecutive quarters, demonstrating its commitment to returning value to shareholders. Artesian operates the oldest and largest regulated water utility on the Delmarva Peninsula, supplying 8.3 billion gallons of water annually.
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