Artesian Resources Co. (ARTNA) To Go Ex-Dividend on November 15th

Artesian Resources Co. (NASDAQ:ARTNA) announced a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.301 per share by the utilities provider on Monday, November 25th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, November 15th. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.30.

Artesian Resources has increased its dividend payment by an average of 4.1% annually over the last three years. Artesian Resources has a payout ratio of 57.9% meaning its dividend is sufficiently covered by earnings. 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 Down 3.7 %

Shares of ARTNA stock opened at $34.81 on Wednesday. The stock’s 50 day simple moving average is $36.03 and its 200 day simple moving average is $36.76. Artesian Resources has a twelve month low of $32.93 and a twelve month high of $44.78. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.09 and a current ratio of 1.22. The company has a market capitalization of $358.54 million, a price-to-earnings ratio of 17.85 and a beta of 0.21.

Artesian Resources (NASDAQ:ARTNA) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. Artesian Resources had a net margin of 18.96% and a return on equity of 8.57%. The firm had revenue of $29.14 million for the quarter, compared to the consensus estimate of $29.00 million. As a group, research analysts predict 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.