NEWARK, Del., Sept. 29, 2016 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (NASDAQ:ARTNA) announced today that its Board of Directors has approved a 1.5% increase in the company’s Class A and Class B Common Stock dividend, raising the annual dividend to $0.9132 per share. The quarterly dividend of $0.2283 is payable November 21, 2016 to shareholders of record at the close of business on November 9, 2016.
“We are pleased once again to reward our shareholders with solid returns for their investment. This marks our 96th consecutive quarterly dividend and the 20th consecutive year dividends have been increased. While we are committed to delivering a fair return to investors, we are equally committed to delivering a safe and reliable supply of quality water to our customers. In the first six months of 2016, we invested $12.1 million in infrastructure improvements to meet that commitment to our customers,” said Dian C. Taylor, Chair, President and CEO.
About Artesian Resources
Artesian Resources Corporation operates as the holding company for wholly-owned subsidiaries offering water, wastewater services and related services on the Delmarva Peninsula. Artesian Water Company, the principal subsidiary, is the oldest and largest investor-owned water utility on the Delmarva Peninsula and has been providing water service since 1905. Artesian supplies 7.6 million gallons of water per year through 1,218 miles of water main to about 301,000 people.