Artesian Resources Corporation Plans Quarterly Dividend of $0.31 (NASDAQ:ARTNA)

Artesian Resources Corporation (NASDAQ:ARTNA) announced a quarterly dividend on Monday, February 2nd. Investors of record on Friday, February 13th will be given a dividend of 0.3136 per share by the utilities provider on Wednesday, February 25th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, February 13th.

Artesian Resources has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Artesian Resources has a payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Artesian Resources to earn $2.00 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 62.5%.

Artesian Resources Stock Up 0.5%

Shares of ARTNA traded up $0.17 during mid-day trading on Tuesday, hitting $33.53. The company’s stock had a trading volume of 1,195 shares, compared to its average volume of 27,038. The company’s 50-day moving average is $32.15 and its 200-day moving average is $32.58. Artesian Resources has a 52-week low of $29.97 and a 52-week high of $36.19. The firm has a market capitalization of $345.69 million, a price-to-earnings ratio of 15.25 and a beta of 0.36. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 0.70.

Wall Street Analysts Forecast Growth

ARTNA has been the subject of a number of analyst reports. Zacks Research upgraded Artesian Resources from a “strong sell” rating to a “hold” rating in a research note on Friday. Weiss Ratings reissued a “hold (c-)” rating on shares of Artesian Resources in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Artesian Resources Company Profile

Artesian Resources Corporation (NASDAQ: ARTNA) is a publicly traded water and wastewater utility company headquartered in Wilmington, Delaware. The company provides regulated water distribution and wastewater collection services to residential, commercial and industrial customers. Through its operating subsidiaries, Artesian is subject to oversight by public utility commissions in Delaware, Maryland and Pennsylvania, ensuring the delivery of safe, high-quality water in compliance with state and federal standards.

Traced back to its roots as the Artesian Water Company founded in 1905, the organization has expanded its footprint through a combination of organic growth and strategic acquisitions.