Artesian Resources Corporation (ARTNA) will raise its quarterly dividend by 1.5 percent to $0.2459 per share in the second quarter of 2019. This marks the 23rd consecutive year of dividend increases by the water utility.

The next quarterly dividend of $0.2459 is payable May 23, 2019 to shareholders of record at the close of business on May 10, 2019. A new annualized rate of $0.9836 per share yields 2.7% at a stock price of $36.14.

“Our record of consistently increasing dividends to our shareholders over the last 23 years speaks equally to our commitment to delivering a fair return to our investors and being a leader in the responsible stewardship of precious water resources across our water and wastewater businesses.  We are committed to improving our environment through total water resource management and ensuring the superior service and high-quality drinking water our customers have come to expect over the last 110 years,” said Dian C. Taylor, Chair, President and CEO.

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. Artesian supplies 7.9 billion gallons of water per year through 1,311 miles of water main to nearly a third of Delaware residents.