Artesian Resources Co. Plans Quarterly Dividend of $0.24 (ARTNA)

Artesian Resources Co. (NASDAQ:ARTNA) declared a quarterly dividend on Thursday, January 18th, Wall Street Journal reports. Shareholders of record on Friday, February 9th will be given a dividend of 0.2352 per share by the utilities provider on Friday, February 23rd. This represents a $0.94 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, February 8th.

Artesian Resources (ARTNA) traded up $0.71 during trading hours on Thursday, hitting $38.25. 34,100 shares of the company’s stock traded hands, compared to its average volume of 27,282. The firm has a market capitalization of $345.41, a P/E ratio of 27.13 and a beta of 0.10. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 0.73. Artesian Resources has a fifty-two week low of $29.83 and a fifty-two week high of $43.22.

Artesian Resources (NASDAQ:ARTNA) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $22.36 million for the quarter. Artesian Resources had a return on equity of 9.18% and a net margin of 15.96%. research analysts expect that Artesian Resources will post 1.42 earnings per share for the current fiscal year.

ARTNA has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Artesian Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. BidaskClub downgraded shares of Artesian Resources from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th.

In related news, insider Dian C. Taylor sold 8,798 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $42.36, for a total value of $372,683.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth R. Biederman sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $39.05, for a total transaction of $78,100.00. Following the completion of the sale, the director now directly owns 21,875 shares of the company’s stock, valued at $854,218.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,548 shares of company stock valued at $734,283. Insiders own 20.59% of the company’s stock.

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About Artesian Resources

Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.

Dividend History for Artesian Resources (NASDAQ:ARTNA)

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