Artesian Resources Corporation declared a quarterly dividend of $0.3014, marking its 129th consecutive payment to shareholders.
Quiver AI Summary
Artesian Resources Corporation announced a quarterly dividend of $0.3014 for its Class A and Class B Common Stock, which will be paid on February 21, 2025, to shareholders on record as of February 7, 2025. This dividend marks the company’s 129th consecutive quarterly payout, resulting in an annualized dividend rate of $1.2056. Artesian Resources, via its main subsidiary Artesian Water Company, has been a key provider of water and wastewater services on the Delmarva Peninsula since 1905, supplying 8.8 billion gallons of water annually to over one-third of Delaware residents.
Potential Positives
- Artesian Resources Corporation continues its longstanding commitment to shareholders with the declaration of its 129th consecutive quarterly dividend, demonstrating financial stability and consistent performance.
- The quarterly dividend of $0.3014 reflects a sustainable annualized dividend rate of $1.2056, indicating the company’s capability to generate reliable cash flow.
- As the oldest and largest regulated water utility on the Delmarva Peninsula, Artesian's established position in the market enhances its credibility and reliability in providing essential services.
Potential Negatives
- The announcement of a quarterly dividend may indicate that the company is prioritizing short-term shareholder returns over long-term investments, which could undermine future growth opportunities.
- The repeated focus on dividend payments over significant business developments may signal a lack of new strategic initiatives or innovations within the company.
- The company's dependence on dividends could raise concerns among investors about the sustainability of financial performance, especially if future earnings do not support continued payout.
FAQ
What is the latest quarterly dividend declared by Artesian Resources Corporation?
The latest quarterly dividend declared is $0.3014 per share on Class A and Class B Common Stock.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ARTNA Hedge Fund Activity
We have seen 41 institutional investors add shares of $ARTNA stock to their portfolio, and 76 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PROSHARE ADVISORS LLC removed 183,496 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $6,822,381
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. added 93,551 shares (+11.8%) to their portfolio in Q3 2024, for an estimated $3,478,226
- LEGAL & GENERAL GROUP PLC added 80,736 shares (+87.4%) to their portfolio in Q3 2024, for an estimated $3,001,764
- NORTHERN TRUST CORP removed 53,252 shares (-62.7%) from their portfolio in Q3 2024, for an estimated $1,979,909
- MORGAN STANLEY removed 50,823 shares (-20.0%) from their portfolio in Q3 2024, for an estimated $1,889,599
- BLACKROCK, INC. added 46,824 shares (+6.8%) to their portfolio in Q3 2024, for an estimated $1,740,916
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 46,567 shares (-71.8%) from their portfolio in Q3 2024, for an estimated $1,731,361
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEWARK, Del., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA) announced today that its Board of Directors declared a regular quarterly dividend on the company’s Class A and Class B Common Stock. The quarterly dividend of $0.3014 is payable February 21, 2025 to shareholders of record at the close of business on February 7, 2025, providing a $1.2056 annualized dividend rate. This is Artesian’s 129 th consecutive quarterly dividend paid to shareholders.
About Artesian Resources
Artesian Resources Corporation operates as a holding company of wholly-owned subsidiaries offering water and wastewater services, and related business services, on the Delmarva Peninsula. Artesian Water Company, the principal subsidiary, is the oldest and largest regulated water utility on the Delmarva Peninsula and has been providing water service since 1905. Artesian Water Company supplies 8.8 billion gallons of water per year through 1,470 miles of water main to over a third of Delawareans.
Contact:
Nicholle R. Taylor
Investor Relations
(302) 453-6900
[email protected]
