Artesian Resources Corporation Declares Increased Dividend Payout
Artesian Resources Corporation has announced an exciting update for its shareholders. The Board of Directors approved a significant 2% increase in the quarterly common stock dividend, which reflects an overall 4% boost in dividends for the year. This increment raises the quarterly dividend to $0.3014 per share across both the Class A and Class B Common Stock. As a result, the annualized dividend rate will now stand at $1.2056 per share, which is set to be paid out on an upcoming date in late November to all shareholders on record.
Commitment to Shareholder Value
Dian C. Taylor, Chair, President, and CEO of Artesian, expressed the company’s unwavering commitment to providing value for its shareholders. Taylor mentioned, "Artesian has remained focused on delivering value to our shareholders while providing high-quality water service and environmentally sound wastewater services to our customers." The ability to consistently increase dividends year after year illustrates the strength and stability of Artesian's business model, alongside their commitment to expanding both their customer base and revenues.
A Milestone Achievement
This recent increase marks an impressive milestone for Artesian Resources Corporation, representing the 128th consecutive quarterly dividend the company has paid to its shareholders. This streak of consistent payments is a testament to the company’s solid financial foundation and operational success, all while focusing on enhancing and maintaining customer satisfaction.
About Artesian Resources Corporation
Operating as a holding company, Artesian Resources Corporation has wholly-owned subsidiaries that deliver essential water and wastewater services across the Delmarva Peninsula. Its primary subsidiary, Artesian Water Company, holds the distinction of being the oldest and largest regulated water utility in the region, boasting a rich history of providing reliable water service since 1905. With an impressive annual supply of 8.8 billion gallons of water, Artesian Water Company serves more than one-third of Delaware's population through 1,470 miles of water mains.
Contact Information
For inquiries, shareholders and interested parties can reach out to Nicholle R. Taylor in the Investor Relations department at (302) 453-6900 or via email. Such communication channels are vital for maintaining transparency and engagement with the community and stakeholders alike.
Frequently Asked Questions
What is the new dividend amount per share for Artesian Resources?
The quarterly dividend has been raised to $0.3014 per share for both Class A and Class B Common Stock.
How often does Artesian Resources pay dividends?
Artesian Resources Corporation pays dividends quarterly, marking consistent financial returns to their shareholders.
What is the total annualized dividend rate now?
The annualized dividend rate has increased to $1.2056 per share following the recent adjustment.
When will the dividend payments be issued?
The dividends are expected to be paid out towards the end of November for shareholders of record.
Why is this dividend increase significant?
This increase reflects Artesian's commitment to shareholder value and showcases the company's financial stability and growth strategy over the years.
