Artesian Resources Co. (NASDAQ:ARTNA) declared a quarterly dividend on Wednesday, April 14th, Zacks reports. Stockholders of record on Friday, May 7th will be given a dividend of 0.261 per share by the utilities provider on Friday, May 21st. This represents a $1.04 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, May 6th. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.26.
Artesian Resources has increased its dividend payment by 8.5% over the last three years and has increased its dividend annually for the last 14 consecutive years. Artesian Resources has a dividend payout ratio of 54.2% meaning its dividend is sufficiently covered by earnings.
ARTNA stock opened at $40.88 on Tuesday. The firm has a 50-day simple moving average of $40.21 and a two-hundred day simple moving average of $38.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.38 and a current ratio of 0.41. Artesian Resources has a one year low of $31.89 and a one year high of $42.70. The firm has a market cap of $382.68 million, a price-to-earnings ratio of 22.71 and a beta of 0.02.
In other news, VP Pierre A. Anderson sold 821 shares of the firm’s stock in a transaction dated Tuesday, March 23rd. The stock was sold at an average price of $39.03, for a total transaction of $32,043.63. Following the sale, the vice president now directly owns 606 shares in the company, valued at approximately $23,652.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John R. Eisenbrey, Jr. sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $41.52, for a total value of $560,520.00. Following the transaction, the director now directly owns 57,501 shares of the company’s stock, valued at $2,387,441.52. The disclosure for this sale can be found here. Insiders have sold 15,956 shares of company stock worth $656,639 over the last three months. Corporate insiders own 20.59% of the company’s stock.
About Artesian Resources
Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater collection, treatment infrastructure, and wastewater services to customers in Delaware.
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