Artesian Resources Corporation (ARTNA) will raise its quarterly dividend by 1.5 percent to 26.10 cents per share in 2021. This comes after a dividend hike of 3.0 percent to $0.2571 per share in 2020.
Water company Artesian Resources has now raised its dividend 25 consecutive years, reaching Dividend Aristocrat status.
The next dividend is payable May 21, 2021 to shareholders of record at the close of business on May 7, 2021. A new annual rate of $1.04 cents per share yields 2.5% at a stock price of $41.44.
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.