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

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

Artesian Resources has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 8 years. Artesian Resources has a payout ratio of 57.9% meaning its dividend is sufficiently covered by earnings.

Artesian Resources Stock Up 0.8%

NASDAQ:ARTNA traded up $0.27 during trading hours on Friday, reaching $34.67. The company’s stock had a trading volume of 9,498 shares, compared to its average volume of 48,256. The company has a market capitalization of $357.82 million, a P/E ratio of 15.42 and a beta of 0.33. Artesian Resources has a 12 month low of $30.50 and a 12 month high of $35.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.01. The stock has a 50 day moving average price of $33.52 and a two-hundred day moving average price of $32.93.

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

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.