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Artesian Resources (ARTNA) will raise its quarterly dividend by 1.5 percent to $0.2249 per share in the second quarter of 2016. Last year the water utility hiked its dividend by a total of 3.0 percent.

The next dividend is payable May 27, 2016 to shareholders of record on May 16, 2016. The ex-dividend date will be May 12, 2016.

Artesian Resources Corporation operates as the holding company for wholly-owned subsidiaries offering water, 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.