Artesian Resources Co. (ARTNA) To Go Ex-Dividend on August 16th

Artesian Resources Co. (NASDAQ:ARTNA) declared a quarterly dividend on Monday, August 5th, Zacks reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.296 per share by the utilities provider on Tuesday, August 27th. This represents a $1.18 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Friday, August 16th.

Artesian Resources has raised its dividend payment by an average of 4.1% annually over the last three years. Artesian Resources has a dividend payout ratio of 56.2% meaning its dividend is sufficiently covered by earnings. Research 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 Up 0.7 %

Shares of ARTNA stock traded up $0.26 during trading hours on Wednesday, hitting $36.76. 1,291 shares of the company were exchanged, compared to its average volume of 58,078. The firm has a market cap of $378.19 million, a P/E ratio of 21.58 and a beta of 0.19. Artesian Resources has a fifty-two week low of $33.34 and a fifty-two week high of $47.94. 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 company has a 50 day simple moving average of $36.96 and a two-hundred day simple moving average of $36.58.

Artesian Resources (NASDAQ:ARTNA) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.02). Artesian Resources had a net margin of 17.25% and a return on equity of 7.57%. The business had revenue of $27.42 million during the quarter, compared to analyst estimates of $27.00 million. Equities analysts anticipate that Artesian Resources will post 1.99 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Artesian Resources from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th.

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.