Welcome to our dedicated page for Artesian Res news (Ticker: ARTNA), a resource for investors and traders seeking the latest updates and insights on Artesian Res stock.
Artesian Resources Corporation (NASDAQ: ARTNA) is a utilities holding company whose subsidiaries provide regulated water and wastewater services and related business services on the Delmarva Peninsula, including operations in Delaware, Maryland and Pennsylvania. The company’s news flow reflects its role as a regional water and wastewater provider, its regulatory environment and its ongoing infrastructure investments.
On this page, readers can follow Artesian Resources news related to quarterly and year-to-date earnings results, rate and regulatory developments, and capital expenditure programs. The company regularly issues press releases detailing changes in operating revenues from water sales, wastewater services and non-utility activities such as Service Line Protection Plan offerings, along with updates on utility operating expenses, taxes and financing.
News items also cover dividend declarations and increases on Artesian’s Class A and Class B common stock, highlighting a long record of consecutive quarterly dividend payments and periodic adjustments to the dividend rate approved by the Board of Directors. Corporate governance developments, such as the appointment of new directors with financial and risk management expertise, are reported through both press releases and SEC Form 8-K filings.
Investors and observers can also track announcements on infrastructure projects and water quality initiatives, including investments in water and wastewater infrastructure, PFAS treatment upgrades, and the use of settlement proceeds from PFAS-related litigation to provide bill credits to eligible customers. Together, these updates provide insight into Artesian Resources’ financial performance, regulatory interactions and operational priorities as a regional water and wastewater utility.
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.
Artesian Resources Corporation (Nasdaq: ARTNA) has appointed Nicholle R. Taylor as President of Artesian Water Company, effective August 16, 2021. With over 30 years at Artesian, Taylor has significant leadership experience, having served as Senior VP and COO. Dian C. Taylor, CEO, expressed confidence in her ability to drive growth. Taylor is involved in various industry organizations, highlighting her commitment to sustainable practices. Artesian, established in 1905, supplies 8.3 billion gallons of water annually to a third of Delawareans.
Artesian Wastewater Management launched full operations of its Sussex Regional Recharge Facility (SRRF), accepting treated effluent from Allen Harim to meet environmental regulations. This facility will initially recycle 1.5 million gallons daily, using innovative spray irrigation to benefit local agriculture. The project represents a $28 million investment with 9 miles of force mains. This initiative aims to improve groundwater quality and reduce wastewater discharge into local streams, affirming Artesian's commitment to environmental protection and local economic support.
Artesian Resources Corporation (Nasdaq: ARTNA) has declared a quarterly dividend of $0.2610 on its Class A and Class B Common Stock. This dividend will be payable on August 20, 2021 to shareholders recorded by the close of business on August 9, 2021. This announcement marks the company's 115th consecutive quarterly dividend, showcasing its commitment to returning value to shareholders. Artesian is a leading water utility on the Delmarva Peninsula, supplying 8.3 billion gallons of water annually through a vast network of pipelines.
Artesian Resources Corporation (Nasdaq: ARTNA) appointed Pierre A. Anderson as Chief Information Officer and Senior Vice President, effective May 5, 2021. Anderson has been with the company since 2006, progressing from Manager of Information Technology to his current role, bringing over 20 years of technology experience. He will oversee technology management, cybersecurity, and corporate strategic planning, contributing to Artesian's operational efficiency and community service. Artesian is the largest regulated water utility on the Delmarva Peninsula, supplying 8.3 billion gallons of water yearly.
Artesian Resources Corporation (Nasdaq: ARTNA) reported a net income of $4.2 million for Q1 2021, reflecting a 3.2% increase from Q1 2020. Diluted earnings per share rose 2.3% to $0.45. Revenues reached $20.7 million, a 4.2% increase driven by residential water sales and a 17.1% rise in wastewater revenue. The Board approved a 1.5% dividend increase, marking its 25th consecutive year of dividend hikes. Operating expenses rose 5.3%, primarily due to payroll and maintenance costs. Artesian invested $9.3 million in infrastructure, focusing on enhancing service capacity in Sussex County.