Artesian Resources Co. (NASDAQ:ARTNA) Announces Dividend Increase – $0.30 Per Share

Artesian Resources Co. (NASDAQ:ARTNA) declared a quarterly dividend on Monday, November 4th, Zacks reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.301 per share by the utilities provider on Monday, November 25th. This represents a $1.20 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, November 15th. This is a boost from Artesian Resources’s previous quarterly dividend of $0.30.

Artesian Resources has increased its dividend by an average of 4.1% annually over the last three years. Artesian Resources has a payout ratio of 56.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Artesian Resources to earn $2.09 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 56.5%.

Artesian Resources Stock Down 0.9 %

ARTNA traded down $0.31 during trading on Wednesday, hitting $35.77. The company had a trading volume of 7,430 shares, compared to its average volume of 50,025. The company has a market capitalization of $368.29 million, a PE ratio of 18.50 and a beta of 0.21. The company has a quick ratio of 1.09, a current ratio of 1.30 and a debt-to-equity ratio of 0.76. Artesian Resources has a one year low of $32.93 and a one year high of $44.78. The firm’s 50-day moving average price is $36.04 and its 200 day moving average price is $36.72.

Artesian Resources (NASDAQ:ARTNA) last released its earnings results on Monday, November 4th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. The firm had revenue of $29.14 million for the quarter, compared to analysts’ expectations of $29.00 million. Artesian Resources had a return on equity of 7.90% and a net margin of 17.74%. As a group, equities analysts expect that Artesian Resources will post 1.92 earnings per share for the current year.

Artesian Resources Company Profile

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.