Artesian Res Corp Stock Price, News & Analysis

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.

Artesian Resources Corporation (NASDAQ: ARTNA) has announced a 1.5% increase in its Class A and Class B Common Stock dividends, raising the annual dividend to $1.044 per share. The quarterly dividend of $0.2610 is payable on May 21, 2021, to shareholders who own shares as of May 7, 2021. This marks the company's 114th consecutive quarterly dividend and the 25th year of increased dividends. CEO Dian C. Taylor noted significant growth and strong financial results despite past challenges.

Artesian Resources Corporation (NASDAQ: ARTNA) has released its 2020 Annual Report, now available electronically on its website. Shareholders can request a print copy for free by contacting the company. Artesian provides essential water and wastewater services to over 300,000 customers on the Delmarva Peninsula, supplying 8.3 billion gallons of water annually through a network of 1,311 miles of main. This report reflects the company's ongoing commitment to transparency and service quality.