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Artesian Resources' (ARTNA) Quarterly Dividend Up 1.5%

Artesian Resources CorporationARTNA continues to maximize shareholders' wealth through the payment of steady as well as incremental dividends. The board of directors has yet again raised its quarterly cash dividend rate of Class A and Class B shares by 1.5% to 22.16 cents per share. The revised dividend will be paid on Nov 16, 2015, to shareholders of record as of Nov 9.

On an annualized basis, Artesian Resources' dividend rate will come to 88.64 cents per share. The company's current annual dividend yield is 4.03%, higher than the industry average of 3.32.

This water and wastewater management company has paid cash dividends for 23 consecutive years. The company has without fail hiked its dividend rate in each of the past 19 years. Over the last five years the company has raised the dividend by an average of 3.2% annually. These consistent dividend payments have been possible due to the proper functioning of its Delmarva Peninsula growth strategy.

The company strives to maintain a stable financial position. As of Jun 30, 2015, the company had cash & cash equivalents of $0.36 million, up from $0.24 million as of Dec 31, 2014. Net cash flow from operating activities in the first six months of 2015 was $14.9 million, up from $10 million in the year-ago period. A favorable financial position supports the company's practice of paying dividends.

Dividend Hike from Other Water Utilities

The utility sector is well known for its stable dividend payments, which makes it a great choice for income seeking investors. Apart from Artesian Resources, Connecticut Water Service Inc. CTWS raised its annual dividend by 4% to $1.07 per share in Aug 2015. This marked the water utility's 46th consecutive annual hike.

In July, American States Water Company AWR raised its annual dividend rate by 5.2% to 89.60 per share. It has been doing so for the last 61 years.

Zacks Rank

Artesian Resources Corporation currently has a Zacks Rank #2 (Buy). Another water utility, Veolia Environnement S.A. VEOEY , shares the same bullish Zacks rank with Artesian Resources.

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CONN WATER SVC (CTWS): Free Stock Analysis Report

ARTESIAN RES (ARTNA): Free Stock Analysis Report

AMER STATES WTR (AWR): Free Stock Analysis Report

VEOLIA ENVIRON (VEOEY): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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