Artesian Res Corp Stock Price, News & Analysis

Artesian Resources Corporation (Nasdaq: ARTNA) has declared a quarterly dividend of $0.2729 per share, payable on August 23, 2022 to shareholders of record by August 9, 2022. This dividend marks the company's 119th consecutive quarterly payout to its investors. Artesian Resources, operating primarily in the Delmarva Peninsula, provides essential water and wastewater services, delivering over 8.4 billion gallons of water annually through its extensive infrastructure.

Artesian Water Company, a subsidiary of Artesian Resources Corporation (Nasdaq: ARTNA), completed its acquisition of the Town of Clayton's water system on May 26, 2022. The Delaware Public Service Commission approved the sale on April 20, 2022. This strategic acquisition enhances the ability to regionalize water systems and improve reliability for over 7,000 residents in the area, including 1,500 from Clayton. Artesian has a long-standing partnership with the town, and this acquisition marks its eighth water system purchase in six years, supporting ongoing residential and commercial growth.

Artesian Resources Corporation (Nasdaq: ARTNA) reported a first-quarter 2022 net income of $4.5 million, a 6.6% increase year-over-year. Diluted earnings per share rose 4.4% to $0.47. Revenues totaled $22.2 million, up 7.5%, driven by customer growth and increased wastewater revenue from recent acquisitions. Operating expenses surged by 9.3% to $13.0 million, mainly due to higher utility costs. The company announced a 2.0% dividend hike, marking its 118th consecutive quarterly payment. A $12.6 million capital expenditure was invested to enhance water and wastewater services.

Artesian Resources Corporation (Nasdaq: ARTNA) has increased its quarterly dividend by 2%, now at $0.2729 per share, raising the annualized rate to $1.0916. This dividend will be paid on May 23, 2022, to shareholders of record by May 9, 2022. Additionally, the company has entered an agreement to acquire the Town of Clayton's water system, which serves around 4,000 residents, enhancing its service area in northern Kent County. This marks Artesian's 118th consecutive quarterly dividend payment, reflecting its strong commitment to shareholder returns.

Artesian Resources Corporation (NASDAQ: ARTNA), a key player in water and wastewater services in the Delmarva Peninsula, announced the availability of its 2021 Annual Report for shareholders. The report can be accessed electronically through the company's website, with print copies obtainable upon request. Artesian Water Company, the primary subsidiary, is the largest regulated water utility in the region, supplying over 8.4 billion gallons of water annually across 1,398 miles of mains to a significant portion of Delaware's population.

Artesian Resources Corporation (Nasdaq: ARTNA) reported a 3.1% revenue increase for 2021, totaling $90.9 million. The net income remained stable at $16.8 million, with diluted EPS at $1.79. The fourth quarter saw a 3.8% rise in revenue to $22.6 million. Notable achievements include a 4% dividend increase and significant infrastructure investments totaling $40.8 million. The acquisition of Tidewater Environmental Services in January 2022 has more than doubled wastewater customers in Delaware. The company continues to focus on growth and reliable service delivery.

Artesian Water Company, a subsidiary of Artesian Resources Corporation (NASDAQ: ARTNA), announced an acquisition of the Town of Clayton’s water system on February 16, 2022. This system serves approximately 1,500 customers through 23 miles of main and will integrate with Artesian’s existing regional system in northern Kent County, Delaware. The acquisition, expected to close in Q2 2022 post-approval, follows previous acquisitions in Delaware City and Frankford. This strategic move aims to enhance water service provision and cater to Clayton's growing residential and commercial projects.

Artesian Resources Corporation (NASDAQ: ARTNA) announced a quarterly dividend of $0.2675 per share, payable on February 23, 2022. Shareholders of record by February 9, 2022 will receive this dividend, marking an annualized rate of $1.07. This distribution represents the company's 117th consecutive quarterly dividend, reflecting its commitment to returning value to shareholders. Artesian, a leading water utility on the Delmarva Peninsula, delivers 8.3 billion gallons of water annually to nearly a third of Delaware residents.

Artesian Resources Corporation (NASDAQ: ARTNA) announced the acquisition of Tidewater Environmental Services, Inc. for $6.4 million. This purchase adds 3,600 wastewater customers, 7 facilities, and 13,000 acres of franchise territory in Sussex County, Delaware. The transaction aims to enhance operational efficiencies and environmental sustainability in wastewater management. Artesian's subsidiary, AWMI, has over two decades of experience and has invested in technological upgrades to improve service quality and environmental protection. The acquisition is expected to create significant synergies for future growth.