Artesian Resources Co. (NASDAQ:ARTNA) Increases Dividend to $0.30 Per Share

Artesian Resources Co. (NASDAQ:ARTNAGet Free Report) declared a quarterly dividend on Monday, May 6th, Zacks reports. Investors of record on Friday, May 17th will be paid a dividend of 0.296 per share by the utilities provider on Tuesday, May 28th. This represents a $1.18 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from Artesian Resources’s previous quarterly dividend of $0.29.

Artesian Resources has increased its dividend payment by an average of 4.1% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Artesian Resources has a dividend payout ratio of 56.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Artesian Resources to earn $2.10 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 56.2%.

Artesian Resources Trading Down 0.2 %

ARTNA stock traded down $0.08 during mid-day trading on Wednesday, reaching $40.79. The company had a trading volume of 867 shares, compared to its average volume of 35,382. The company has a market capitalization of $419.73 million, a PE ratio of 24.04 and a beta of 0.20. The firm has a 50 day moving average of $36.11 and a 200 day moving average of $38.26. Artesian Resources has a 12 month low of $33.42 and a 12 month high of $55.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.42 and a quick ratio of 1.20.

Artesian Resources (NASDAQ:ARTNAGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $24.54 million for the quarter, compared to the consensus estimate of $24.00 million. Artesian Resources had a return on equity of 7.57% and a net margin of 17.25%. On average, equities analysts predict that Artesian Resources will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on ARTNA shares. TheStreet lowered shares of Artesian Resources from a “b-” rating to a “c+” rating in a research report on Monday, February 5th. raised shares of Artesian Resources from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th.

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Artesian Resources Company Profile

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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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Dividend History for Artesian Resources (NASDAQ:ARTNA)

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