Artesian Resources Corporation (NASDAQ:ARTNA) Announces Quarterly Dividend of $0.32

Artesian Resources Corporation (NASDAQ:ARTNA) announced a quarterly dividend on Tuesday, May 5th. Investors of record on Friday, May 15th will be given a dividend of 0.3199 per share by the utilities provider on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, May 15th. This is a 2.0% increase from Artesian Resources’s previous quarterly dividend of $0.31.

Artesian Resources has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Artesian Resources has a dividend payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings.

Artesian Resources Stock Up 0.4%

Artesian Resources stock opened at $31.41 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.64 and a quick ratio of 0.52. Artesian Resources has a 1-year low of $30.50 and a 1-year high of $35.37. The company has a market cap of $324.15 million, a PE ratio of 14.15 and a beta of 0.33. The stock’s 50 day moving average price is $32.44 and its 200 day moving average price is $32.44.

Artesian Resources (NASDAQ:ARTNA) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. Artesian Resources had a return on equity of 9.52% and a net margin of 20.76%.The firm had revenue of $27.77 million for the quarter, compared to the consensus estimate of $27.00 million.

Artesian Resources Company Profile

Artesian Resources Corporation (NASDAQ: ARTNA) is a publicly traded water and wastewater utility company headquartered in Wilmington, Delaware. The company provides regulated water distribution and wastewater collection services to residential, commercial and industrial customers. Through its operating subsidiaries, Artesian is subject to oversight by public utility commissions in Delaware, Maryland and Pennsylvania, ensuring the delivery of safe, high-quality water in compliance with state and federal standards.

Traced back to its roots as the Artesian Water Company founded in 1905, the organization has expanded its footprint through a combination of organic growth and strategic acquisitions.