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

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Artesian Resources Corporation (Nasdaq: ARTNA) has approved a 2% increase in the quarterly common stock dividend. The quarterly dividend will be $0.2897 per share, raising the annualized dividend rate to $1.1588 per share. The dividend will be payable on November 24, 2023, to shareholders of record as of November 16, 2023. This is the second dividend increase this year, bringing the total increase to 4%. This is Artesian Resources Corporation's 124th consecutive quarterly dividend paid to shareholders.

NEWARK, Del., Nov. 06, 2023 (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. This increase will raise the quarterly dividend to $0.2897 per share on the company’s Class A and Class B Common Stock, lifting the annualized dividend rate to $1.1588 per share payable November 24, 2023 to shareholders of record at the close of business on November 16, 2023.

“Artesian has remained focused on our strategic capital investment programs and continuing to provide value to our Shareholders,” said Dian C. Taylor, Chair, President and CEO. “I am pleased to announce the second increase this year of the quarterly dividend, bringing this year’s total increase to 4%.”

This marks Artesian Resources Corporation’s 124^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 8.7 billion gallons of water per year through 1,442 miles of water main to over a third of Delawareans.

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

What is the stock symbol for Artesian Resources Corporation?

The stock symbol for Artesian Resources Corporation is ARTNA.

What is the new quarterly common stock dividend?

The new quarterly common stock dividend is $0.2897 per share.

What is the annualized dividend rate?

The annualized dividend rate is $1.1588 per share.

When will the dividend be payable?

The dividend will be payable on November 24, 2023.

Who are the shareholders eligible to receive the dividend?

Shareholders of record at the close of business on November 16, 2023, are eligible to receive the dividend.

How many consecutive quarterly dividends has Artesian Resources Corporation paid?

Artesian Resources Corporation has paid 124 consecutive quarterly dividends.