Artesian Resources Corporation (NASDAQ:ARTNA) Announces $0.31 Quarterly Dividend

Artesian Resources Corporation (NASDAQ:ARTNA) announced a quarterly dividend on Monday, February 2nd. Stockholders of record on Friday, February 13th will be given a dividend of 0.3136 per share by the utilities provider on Wednesday, February 25th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, February 13th.

Artesian Resources has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Artesian Resources has a payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Artesian Resources to earn $2.00 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 62.5%.

Artesian Resources Price Performance

Shares of NASDAQ:ARTNA opened at $33.09 on Tuesday. The business has a fifty day simple moving average of $32.15 and a 200 day simple moving average of $32.58. Artesian Resources has a 1 year low of $29.97 and a 1 year high of $36.19. The firm has a market cap of $341.16 million, a price-to-earnings ratio of 15.11 and a beta of 0.36. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 0.70.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Artesian Resources by 0.6% in the third quarter. Vanguard Group Inc. now owns 514,412 shares of the utilities provider’s stock worth $16,767,000 after acquiring an additional 3,079 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Artesian Resources in the second quarter valued at $5,034,000. Legal & General Group Plc raised its position in Artesian Resources by 14.3% during the second quarter. Legal & General Group Plc now owns 142,048 shares of the utilities provider’s stock worth $4,767,000 after acquiring an additional 17,752 shares in the last quarter. Roffman Miller Associates Inc. PA lifted its stake in Artesian Resources by 16.4% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 137,337 shares of the utilities provider’s stock valued at $4,341,000 after purchasing an additional 19,342 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its position in shares of Artesian Resources by 93.9% in the third quarter. Prospera Financial Services Inc now owns 117,493 shares of the utilities provider’s stock valued at $3,830,000 after buying an additional 56,890 shares during the last quarter. Institutional investors and hedge funds own 57.37% of the company’s stock.

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.