Artesian Resources Corporationannounced that its Board of Directors has approved a 3 percent increase in the company’s Class A and Class B Common Stock dividend, raising the annual dividend to $1.0284 per share.
The quarterly dividend of $0.2571 is payable November 20 to shareholders of record at the close of business on November 9.
“We are pleased to announce this three percent dividend increase. Our Artesian team continues to work diligently to expand our water and wastewater businesses significantly, while generating strong financial results. We look forward to continuing our successful acquisitions, growing our customer base and increasing our revenues to provide consistent returns to our shareholders,” said Dian C. Taylor, CEO.
Artesian Resources has now paid quarterly dividends to its shareholders for 112 consecutive quarters and for the 24thconsecutive year has increased dividends.
Artesian Resources Corporation operates as a holding company of wholly-owned subsidiaries offering water and wastewater services, and related services, on the Delmarva Peninsula.
Artesian Water Company, the principal subsidiary, is the oldest and largest regulated water utility on the Delmarva Peninsula and has been providing water service since 1905. Artesian supplies 8.3 billion gallons of water per year through 1,331 miles of main to more than 300,000 people.
While its largest service area is New Castle County, the company has water and wastewater facilities throughout Delaware and Cecil County, MD.
While a publicly-traded company, Artesian remains under the control fo the founding Taylor family. The company is based south of Newark.