NEWARK, Del., Sept. 28, 2011 /PRNewswire/ -- Artesian Resources Corporation (NASDAQ: ARTNA) announced today that its Board of Directors has approved a 1.5% increase in the Class A Non-Voting and Class B Common shareholders' dividend, raising the annual dividend to $0.7720 per share.
The quarterly dividend of $0.1930 is payable on November 23, 2011 to shareholders of record at the close of business on November 11, 2011.
The quarterly dividend increase is the second increase in 2011 for Artesian. Earlier this year, Artesian raised its quarterly dividend by 0.5% to $0.1902. Artesian has increased its dividends each year for the last 14 years.
"We remain focused on delivering value to our shareholders while providing safe, reliable service to our customers," said Dian Taylor, Chair, President and CEO of Artesian Resources. "Our ability to increase dividends, year after year, reflects the strength and stability of our business and the outstanding performance and commitment of our employees and management team."
About Artesian Resources
Artesian Resources Corporation operates as the holding company of eight wholly-owned subsidiaries offering water, wastewater and engineering services on the Delmarva Peninsula. 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.
SOURCE Artesian Resources Corporation