Artesian Resources Co. (ARTNA) to Issue Quarterly Dividend of $0.30 on May 28th

Artesian Resources Co. (NASDAQ:ARTNAGet Free Report) declared a quarterly dividend on Monday, May 6th, Zacks reports. Investors of record on Friday, May 17th will be given a dividend of 0.296 per share by the utilities provider on Tuesday, May 28th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from Artesian Resources’s previous quarterly dividend of $0.29.

Artesian Resources has raised its dividend by an average of 4.1% per year over the last three years and has increased its dividend every year for the last 6 years. Artesian Resources has a dividend payout ratio of 56.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Artesian Resources to earn $2.10 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 56.2%.

Artesian Resources Trading Down 1.0 %

NASDAQ ARTNA opened at $39.69 on Tuesday. Artesian Resources has a 52 week low of $33.42 and a 52 week high of $55.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.20 and a current ratio of 1.42. The stock’s 50 day moving average price is $36.01 and its two-hundred day moving average price is $38.25. The stock has a market capitalization of $408.41 million, a price-to-earnings ratio of 23.35 and a beta of 0.20.

Artesian Resources (NASDAQ:ARTNAGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The utilities provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $24.54 million for the quarter, compared to analyst estimates of $24.00 million. Artesian Resources had a net margin of 17.25% and a return on equity of 7.57%. As a group, analysts anticipate that Artesian Resources will post 1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARTNA. upgraded Artesian Resources from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. TheStreet cut Artesian Resources from a “b-” rating to a “c+” rating in a research note on Monday, February 5th.

View Our Latest Report on ARTNA

Artesian Resources Company Profile

(Get Free Report)

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater collection, treatment infrastructure, and wastewater services to customers in Delaware.

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Dividend History for Artesian Resources (NASDAQ:ARTNA)

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