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

Rhea-AI Summary

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.

Positive

• Second dividend increase in 2024, totaling 4% annual increase
• 128 consecutive quarters of dividend payments demonstrating financial stability
• Continued growth in customer base and revenues

Negative

• None.

NEWARK, Del., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA) announced today that its Board of Directors has approved a 2% increase in the quarterly common stock dividend, a 4% increase for the year. This increase will raise the quarterly dividend to $0.3014 per share on the company’s Class A and Class B Common Stock, lifting the annualized dividend rate to $1.2056 per share payable November 25, 2024 to shareholders of record at the close of business on November 15, 2024.

“Artesian has remained focused on delivering value to our shareholders while providing high quality water service and environmentally sound wastewater services to our customers,” said Dian C. Taylor, Chair, President and CEO. “Our ability to increase dividends, year after year, reflects the strength and stability of our businesses and commitment to our strategy of growing our customer base and revenues.”

This marks Artesian Resources Corporation’s 128^th consecutive quarterly dividend paid to shareholders.

About Artesian Resources Corporation
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 Water Company 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 Artesian Resources' (ARTNA) new quarterly dividend amount for 2024?

Artesian Resources' new quarterly dividend is $0.3014 per share for both Class A and Class B Common Stock.

When will ARTNA's latest dividend be paid?

The dividend will be paid on November 25, 2024, to shareholders of record as of November 15, 2024.

How many consecutive quarters has ARTNA paid dividends?

Artesian Resources has paid dividends for 128 consecutive quarters.

What is the new annualized dividend rate for ARTNA stock?

The new annualized dividend rate is $1.2056 per share.

How much has ARTNA increased its dividend in 2024?

ARTNA has increased its dividend twice in 2024, each time by 2%, for a total annual increase of 4%.