Artesian Resources Corporation (ARTNA) will raise its quarterly dividend by 3.0 percent to $0.2571 per share in 2020. This follows similar dividend hikes by the water company in the last couple of years. Artesian Resources has now raised its dividend 24 consecutive years.

The next dividend is payable November 20, 2020 to shareholders of record at the close of business on November 9, 2020. A new annual rate of $1.0284 per share yields 3.1% at a stock price of 33.76.

“We are pleased to announce this 3% dividend increase. Our Artesian team continues to work diligently to expand our water and wastewater businesses significantly, while generating strong financial results. We look forward to continuing our successful acquisitions, growing our customer base and increasing our revenues to provide consistent returns to our shareholders,” said Dian C. Taylor, Chair, President and CEO in the company's press release dated September 25, announcing this new dividend hike.

Artesian Resources has now paid quarterly dividends to its shareholders for 112 consecutive quarters and for the 24th consecutive year has increased dividends.

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.