Artesian Resources Corporation reports developments for a regulated water and wastewater utility holding company serving the Delmarva Peninsula through wholly owned subsidiaries. News commonly covers earnings, water sales revenue, customer growth, infrastructure investment in supply, treatment, storage and distribution systems, and wastewater service expansion.
Updates also include quarterly dividends on Class A and Class B common stock, Delaware Public Service Commission rate matters, water-quality and PFAS-related customer credits, and annual-report availability. Artesian Water Company is the principal subsidiary and has provided water service since 1905.
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Artesian Water Company, a subsidiary of Artesian Resources Corporation (Nasdaq: ARTNA), has received the U.S. EPA's AQUARIUS Excellence in Community Engagement Award for its successful acquisition of the Town of Frankford Water System and the Delaware Avenue Main Extension project. This project, which cost over $2 million and was funded by the Clean Water State Revolving Fund, was recognized for its significant community involvement and contribution to safe drinking water accessibility. The award was announced on April 12, 2023, during the CIFA Summit on Water Infrastructure, where Artesian's project was one of five selected from twenty-one submissions. The Delaware Avenue extension spans over 3,500 feet and enhances service reliability to nearly 6,000 customers in Sussex County, Delaware.
Artesian Resources Corporation (NASDAQ: ARTNA) has released its 2022 Annual Report for shareholders, which is now accessible on its website. The report is crucial for understanding the company's performance as a leading provider of water and wastewater services on the Delmarva Peninsula. Artesian, through its principal subsidiary, supplies over 8.4 billion gallons of water annually via 1,442 miles of distribution infrastructure, serving more than a third of Delaware's population. Shareholders can request a free print copy of the report by contacting the company directly.
Established in 1905, Artesian Water Company is the oldest and largest regulated water utility in the region, emphasizing its long-standing commitment to quality service.
Artesian Resources Corporation (Nasdaq: ARTNA) reported an 8.8% increase in revenues and a 7.0% rise in net income for 2022, totaling $98.9 million and $18.0 million respectively. Diluted EPS increased 6.3% to $1.90. Shareholder dividends were raised by 4.0%, marking the 26th consecutive year of increases. Key acquisitions, including Tidewater Environmental Services, Inc., more than doubled wastewater customers, enhancing market position. However, Q4 net income dropped 24.0% to $2.3 million, despite a revenue increase of 11.3% to $25.1 million. Operating expenses surged 21.8%, driven by inflation and supply chain challenges.
Artesian Resources Corporation (NASDAQ: ARTNA) has declared a quarterly dividend of $0.2784 on its Class A and Class B Common Stock, payable on February 23, 2023. Shareholders of record as of February 9, 2023 will receive this payment. This marks the 121st consecutive quarterly dividend, highlighting the company's ongoing commitment to returning value to its shareholders. Artesian operates primarily on the Delmarva Peninsula, supplying 8.4 billion gallons of water annually through an extensive infrastructure.
The Board of Directors of Artesian Resources Corporation (Nasdaq: ARTNA) has appointed Raymond T. Kelly as Vice President of Information Technology, effective November 4, 2022. Kelly, who joined Artesian in 2013, previously served as Director of Information Technology. His responsibilities include overseeing all IT functions and enhancing the technology portfolio, including cybersecurity and business process automation. CEO Dian C. Taylor praised Kelly's role in integrating acquisitions and advancing the company's strategic objectives. Artesian Resources, founded in 1905, provides water services to over a third of Delaware.
The Board of Directors of Artesian Resources Corporation (Nasdaq: ARTNA) has appointed Courtney A. Emerson, Esq. as Assistant Secretary, effective November 4, 2022. Emerson, who joined Artesian in 2021, oversees the Legal Department and has played a crucial role in legal matters affecting the company, including several acquisitions. She has extensive experience as a Senior Associate at Fox Rothschild and has served as an emergency manager for the Delaware Emergency Management Agency. Artesian Resources is a leading provider of water and wastewater services on the Delmarva Peninsula.
Artesian Resources Corporation (Nasdaq: ARTNA) has announced a 2% increase in its quarterly dividend, raising the annualized rate to $1.1136 per share. This results in a quarterly dividend of $0.2784, payable on November 23, 2022, to shareholders of record by November 14, 2022. This marks the company’s 120th consecutive quarterly dividend, reflecting its commitment to shareholder value and financial stability.