Artesian Res Corp Stock Price, News & Analysis

Artesian Resources Corporation (NASDAQ: ARTNA) has declared a quarterly dividend of $0.2571 per share on its Class A and Class B Common Stock. This dividend will be payable on February 22, 2021, to shareholders on record as of February 8, 2021. The company has consistently paid dividends for 113 consecutive quarters, demonstrating its commitment to returning value to shareholders. Artesian operates the oldest and largest regulated water utility on the Delmarva Peninsula, supplying 8.3 billion gallons of water annually.

On December 7, 2020, Artesian Resources Corporation (Nasdaq: ARTNA) announced the appointment of Jennifer L. Finch, CPA, as Corporate Treasurer and Senior Vice President of Finance, effective November 17, 2020. Finch, who has over 30 years of experience, joined Artesian in 2008 as Chief Accounting Officer. In her new role, she will manage cash, banking relationships, corporate financing, and financial filings. Chair Dian C. Taylor highlighted Finch's expertise as vital for the company’s strategic growth and success in the evolving regulatory landscape.

Artesian Resources Corporation (Nasdaq: ARTNA) reported robust Q3 and year-to-date results for 2020, with net income rising 15.9% to $13.7 million and diluted EPS increasing 15.0% to $1.46. Year-to-date revenues grew by 6.1% to $66.4 million, driven by higher water sales and utility operating revenues. The company increased its dividend by 3%, marking 24 consecutive years of growth. Artesian invested $31.6 million in infrastructure and expanded its customer base by acquiring municipal water systems serving an additional 3,000 residents, highlighting strong operational and financial performance amid the pandemic.

Artesian Resources Corporation (NASDAQ: ARTNA) announced a 3% increase in its Class A and Class B Common Stock dividend, raising the annual dividend to $1.0284 per share. The quarterly dividend of $0.2571 will be paid on November 20, 2020, to shareholders on record by November 9, 2020. This marks the 24th consecutive year of dividend increases and the 112th consecutive quarterly dividend. The CEO expressed confidence in expanding business operations while maintaining strong financial results, aiming to continue delivering returns to shareholders.

Artesian Resources Corporation (Nasdaq: ARTNA) reported strong financial performance for the first half of 2020, with a net income of $8.6 million, up 17.3% year-over-year, and diluted earnings per share increasing 16.5% to $0.92. Revenue rose to $41.7 million, a 4% increase primarily driven by residential water sales. The company invested $20.6 million in infrastructure and completed two municipal water acquisitions, adding approximately 3,000 customers. Despite experiencing increased bad debt expenses due to pandemic-related payment issues, the overall financial outlook remains positive.

On August 3, 2020, Artesian Water Company, a subsidiary of Artesian Resources Corporation (NASDAQ: ARTNA), acquired the water system of Delaware City, serving almost 2,000 residents. This move follows a 17-year partnership where Artesian managed the city's water operations. The acquisition includes a $2.4 million investment to upgrade the system, including new water meters and improved treatment efficiency. Artesian aims to enhance water pressure and fire protection through interconnecting with the Fort DuPont system. This strategic acquisition marks Artesian's seventh in three years, supporting regional growth and development.

Artesian Resources Corporation (NASDAQ: ARTNA) has declared a quarterly dividend of $0.2496 per share on its Class A and Class B Common Stock. This dividend will be payable on August 21, 2020 to shareholders of record as of August 7, 2020. This marks the 111th consecutive quarterly dividend paid to shareholders, reflecting the company's commitment to returning value to investors. Artesian Resources operates essential water and wastewater services on the Delmarva Peninsula, serving over 300,000 people with 8.3 billion gallons of water annually.

Artesian Resources Corporation (Nasdaq: ARTNA) reported a net income of $4.1 million for Q1 2020, representing a 13.5% increase from Q1 2019. Diluted earnings per share rose 12.8% to $0.44. Water sales revenue increased by 2.7% to $17.4 million, driven by a larger customer base and higher consumption. Operating expenses grew 1.1% due to payroll costs. Miscellaneous income surged 36% because of patronage distributions. The company continues to adapt during the COVID-19 pandemic, ensuring service continuity while implementing health measures and suspending service disconnections.