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

Artesian Resources Corporation (NASDAQ:ARTNA) announced a quarterly dividend on Thursday, August 6th. Shareholders of record on Monday, August 17th will be given a dividend of 0.3199 per share by the utilities provider on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, August 17th.

Artesian Resources has raised its dividend 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 57.9% meaning its dividend is sufficiently covered by earnings.

Artesian Resources Stock Performance

ARTNA stock traded up $0.27 during midday trading on Friday, reaching $34.67. 9,498 shares of the company’s stock traded hands, compared to its average volume of 48,256. The stock’s 50-day moving average is $33.52 and its 200 day moving average is $32.93. The stock has a market cap of $357.82 million, a P/E ratio of 15.42 and a beta of 0.33. Artesian Resources has a 52-week low of $30.50 and a 52-week high of $35.49. The company has a current ratio of 1.01, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73.

Artesian Resources (NASDAQ:ARTNA) last announced its earnings results on Friday, August 7th. The utilities provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. Artesian Resources had a return on equity of 9.61% and a net margin of 20.86%.The company had revenue of $30.66 million for the quarter, compared to analysts’ expectations of $29.80 million.

About Artesian Resources

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.