Artesian Resources (ARTNA) will raise its quarterly dividend by 1.5 percent to $0.2283 per share. The increased dividend is payable November 21, 2016 to shareholders of record at the close of business on November 9, 2016.

"We are pleased once again to reward our shareholders with solid returns for their investment. This marks our 96 consecutive quarterly dividend and the 20 consecutive year dividends have been increased. While we are committed to delivering a fair return to investors, we are equally committed to delivering a safe and reliable supply of quality water to our customers. In the first six months of 2016, we invested $12.1 million in infrastructure improvements to meet that commitment to our customers," said Dian C. Taylor, Chair, President and CEO.

The new annual $0.9132 per share dividend translates into an estimated dividend yield of 3.2% for Artesian Resources. Earlier this year the company already hiked its dividend, bringing the total dividend increase for 2016 to 3%.

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 investor-owned water utility on the Delmarva Peninsula and has been providing water service since 1905.