Artesian Resources Corporation Announces 2% Increase in Quarterly Common Stock Dividend

Rhea-AI Summary

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.

Positive

• Artesian Resources (Nasdaq: ARTNA) demonstrates financial stability and shareholder commitment by consistently increasing dividends for 28 years.

• The 2% increase in quarterly dividend per share highlights the company's continued success in achieving long-term strategic goals.

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• None.

NEWARK, Del., May 06, 2024 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA) announces today that its Board of Directors has approved a 2% increase in the quarterly dividend per share on the company’s 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 is payable May 28, 2024 to shareholders of record at the close of business on May 17, 2024.

“This is Artesian’s 126^th consecutive quarterly dividend paid to shareholders and 28^th consecutive year of increased dividends. This record of consistency demonstrates continued success in achieving our long-term strategic objectives of proactively investing in infrastructure and growing our customer base, delivering value to our shareholders,” said Dian C. Taylor, Chair, President and CEO.

About Artesian Resources
Artesian Resources Corporation operates as a holding company of wholly-owned subsidiaries offering water and wastewater services, and related business 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 8.8 billion gallons of water per year through 1,470 miles of water main to over a third of Delawareans.

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

FAQ

What is the new quarterly dividend per share for Artesian Resources (ARTNA)?

Artesian Resources (ARTNA) has increased its quarterly dividend per share by 2%, raising it to $0.2955 per share, or $1.182 annually.

When will the new dividend be payable to Artesian Resources (ARTNA) shareholders?

The new dividend will be payable on May 28, 2024, to shareholders of record as of May 17, 2024.

How many consecutive quarterly dividends has Artesian Resources (ARTNA) paid?

Artesian Resources (ARTNA) has paid 126 consecutive quarterly dividends to shareholders.

How many years has Artesian Resources (ARTNA) increased dividends consecutively?

Artesian Resources (ARTNA) has increased dividends for 28 consecutive years.

Who is the Chair, President, and CEO of Artesian Resources (ARTNA)?

Dian C. Taylor serves as the Chair, President, and CEO of Artesian Resources (ARTNA).