Artesian Res Corp Stock Price, News & Analysis

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.

Artesian Wastewater Management has appointed Stanley Siegfried as Vice President of Wastewater Operations, leveraging his 30 years of experience in utility plant construction. Siegfried has previously held key roles, including Manager of Wastewater Maintenance and Director of Wastewater Operations. He will oversee expansions and improvements in wastewater systems and ensure compliance with safety regulations. Artesian currently serves over 3,000 customers in Delaware, treating over 1.3 billion gallons of wastewater annually.

Artesian Resources Corporation (Nasdaq: ARTNA) announced its third-quarter and year-to-date results for 2021. The company reported a net income of $13.8 million for the first nine months, reflecting a 0.5% increase year-over-year, with revenues rising to $68.3 million, up 2.9%. Artesian increased its common stock dividend by 2.5%, bringing the total increase for the year to 4%. The company invested $29.7 million in water and wastewater infrastructure and entered into an agreement to acquire Tidewater Environmental Services, which will double its wastewater customer base in Delaware.

Artesian Resources Corporation (NASDAQ: ARTNA) hosted its 10th Annual Charity Golf Outing, raising over $100,000 for local charities, totaling more than $500,000 over the last decade. The event, held on September 9 at Deerfield Golf Club, saw participation from over 140 golfers including vendors and business partners. Beneficiaries included the American Heart Association, Deep Roots – Cecil County, Easterseals Delaware & Maryland Eastern Shore, and Habitat for Humanity Sussex County. Artesian continues to support community initiatives through its charitable contributions.

Artesian Resources Corporation (Nasdaq: ARTNA) announces a 2.5% increase in its quarterly common stock dividend, raising it to $0.2675 per share, marking a 4% total increase for the year. The annualized dividend rate now stands at $1.07 per share. The dividend is payable on November 19, 2021, to shareholders of record as of November 8, 2021. Additionally, the company is set to acquire Tidewater Environmental Services, significantly expanding its wastewater service capacity in Delaware, doubling its customer base in Sussex County.

Artesian Resources Corporation (NASDAQ: ARTNA) announced that Nicholle R. Taylor and David B. Spacht will participate in the Virtual Water Utilities Conference on September 14, 2021, at 9:15 a.m. (ET). They will provide updates on company developments during the event moderated by Michael Gaugler. The presentation will be available for live viewing and will be archived for 90 days on the company's website and via a dedicated webcast link.

Artesian Resources is the largest regulated water utility on the Delmarva Peninsula, supplying over 8.3 billion gallons of water annually.

Artesian Resources Corporation (NASDAQ: ARTNA) announced the acquisition of Tidewater Environmental Services, Inc. (TESI) for $6.4 million. The deal is pending approval from the Delaware Public Service Commission and is expected to close by December 31, 2021. TESI, a regulated wastewater utility, serves 3,600 customers in Sussex County, Delaware. This strategic acquisition aims to enhance service offerings and align with long-term interests for customers and shareholders.

Artesian Resources Corporation (Nasdaq: ARTNA) reported a net income of $8.7 million for the first half of 2021, marking a slight increase of 0.8% year-over-year. Diluted net income per share rose to $0.93, up 1.1% compared to 2020. Revenues totaled $43.3 million, a growth of 3.9%, driven by increased water sales and wastewater services. The company invested $22.1 million in infrastructure, including a new water treatment facility in Sussex County. However, operating expenses rose by 5.1%, primarily due to increased payroll and maintenance costs.