Artesian Resources Co. (ARTNA) To Go Ex-Dividend on February 7th

Artesian Resources Co. (NASDAQ:ARTNA) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Stockholders of record on Friday, February 7th will be paid a dividend of 0.3014 per share by the utilities provider on Friday, February 21st. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.30.

Artesian Resources has raised its dividend by an average of 4.1% per year over the last three years. Artesian Resources has a payout ratio of 57.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Artesian Resources to earn $2.00 per share next year, which means the company should continue to be able to cover its $1.21 annual dividend with an expected future payout ratio of 60.5%.

Artesian Resources Stock Performance

NASDAQ ARTNA opened at $31.52 on Wednesday. The stock has a market capitalization of $324.66 million, a price-to-earnings ratio of 16.46 and a beta of 0.23. The business’s 50 day moving average is $31.81 and its two-hundred day moving average is $34.71. Artesian Resources has a 12-month low of $29.45 and a 12-month high of $41.29. The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.74.

Artesian Resources (NASDAQ:ARTNA) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The business had revenue of $29.14 million during the quarter, compared to the consensus estimate of $29.00 million. Artesian Resources had a net margin of 18.96% and a return on equity of 8.57%. Research analysts expect that Artesian Resources will post 1.92 EPS for the current year.

About Artesian Resources

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.