Artesian Resources Corporation Announces a 1.5% Increase in Common Stock Dividend
NEWARK, Del., Sept. 17, 2013 /PRNewswire/ -- Artesian Resources Corporation (NASDAQ: ARTNA) announced today that its Board of Directors has declared a regular quarterly dividend of $0.2088, a 1.5% increase in the company's Class A and Class B Common Stock dividend. This increase raises the annualized dividend rate to $0.8352 per share. The quarterly dividend is payable on November 22, 2013 to shareholders of record at the close of business on November 8, 2013. This is the 84th consecutive quarterly dividend paid to shareholders.
Artesian has increased its dividend every year for the past 16 years and this is the second increase in dividends this year. "The increase demonstrates confidence in our long-term strategy as implemented by our dedicated employees. We are proud to deliver superior, safe and reliable service to our customers and consistent, solid returns to our shareholders," said Dian C. Taylor, Chair, President and CEO of Artesian Resources.
About Artesian Resources
Artesian Resources Corporation (www.artesianwater.com) operates as the holding company of eight wholly-owned subsidiaries offering water, wastewater services and related services. Artesian Water Company, the principal subsidiary, is the oldest and largest investor owned public water utility on the Delmarva Peninsula, and has been providing water service since 1905. Artesian supplies over 7.4 billion gallons of water per year through 1,162 miles of water mains to about 300,000 people on the Delmarva Peninsula.
SOURCE Artesian Resources Corporation