NEWARK, DE — Artesian Resources Corporation (Nasdaq: ARTNA) increased its quarterly dividend by 2%, extending the company’s streak of consecutive quarterly shareholder payouts to 134 quarters.
The utility’s board approved a quarterly dividend of $0.3199 per share on Class A and Class B common stock, raising the annualized dividend to $1.2796 per share.
The dividend will be paid May 29 to shareholders of record as of the close of business May 15.
Chief Executive Officer Nicki Taylor stated that the company continues to focus on operational efficiency and long-term infrastructure growth across its regulated utility operations.
“We remain committed to delivering shareholder value while providing customers with high-quality, affordable water and environmentally responsible wastewater services,” Taylor said.
Artesian Water Company, the company’s principal subsidiary, provides water and wastewater services across the Delmarva Peninsula.
The utility supplies about 9.7 billion gallons of water annually through approximately 1,515 miles of water main infrastructure and serves more than one-third of Delaware residents.
Artesian Water Company has operated since 1905 and is the oldest regulated water utility on the Delmarva Peninsula.
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