Artesian Resources Corporation (ARTNA) will raise its quarterly dividend by another 1.5 percent to $0.2496 per share in the fourth quarter of 2019. This follows a similar dividend hike earlier this year by the water company.

The next dividend is is payable November 22, 2019 to shareholders of record at the close of business on November 8, 2019. A new annual rate of 99.84 cents per share yields 2.7% at a stock price of $36.66.

“We are pleased once again to provide our shareholders with a consistent return for their investment as we continue to successfully achieve our strategic initiatives. With the leadership of our management team and our dedicated employees, we are privileged to be able to continue to share these successes with you as a stakeholder in our company,” 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. Artesian Resources has paid quarterly dividends to its shareholders since 1992.