NEWARK, DE — Artesian Resources Corporation (Nasdaq: ARTNA) announced recently that its Board of Directors has approved a 2.5% increase in the quarterly common stock dividend, for a total increase of 4% this year. This increase will raise the quarterly dividend to $0.2675 per share on the company’s Class A and Class B Common Stock, lifting the annualized dividend rate to $1.07 per share.
“As recently reported, Artesian Wastewater Management Inc., our wholly-owned subsidiary, has entered into an agreement with Middlesex Water Company to acquire its Tidewater Environmental Services, Inc. subsidiary, which provides wastewater service in Delaware. Upon completion of the acquisition, which is anticipated in the fourth quarter, we will double the number of wastewater customers we serve in our fast-growing Sussex County, Delaware service area, adding seven wastewater treatment facilities and approximately 13,000 additional acres of franchised service territory. The acquisition will avoid investments in facilities otherwise required, which will accrue to the benefit of all customers,” said David Spacht, President of Artesian Wastewater Management, Inc.
“We remain committed to our efforts on strategic growth, acquisitions and increasing shareholder value; and are pleased to increase, once again, our dividend to our shareholders,” said Dian C. Taylor, Chair, President and CEO.
The quarterly dividend is payable on November 19, 2021 to shareholders of record at the close of business on November 8, 2021, and will mark Artesian’s 116th consecutive quarterly dividend paid to shareholders.
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