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Artesian Resources Corp (ARTNA) will raise its quarterly dividend by 1.5 percent to $0.2317 per share in the first quarter of 2017. This follows a total dividend hike of 3.0 percent by the water utility last year.

The next dividend is payable May 26, 2017 to shareholders of record on May 15, 2017. The ex-dividend date will be May 11, 2017.

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.