Artesian Resources Corporation Announces a 2% Increase in 2nd Quarter Common Stock Dividend

NEWARK, Del. , April 13, 2022 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA) is pleased to announce that its Board of Directors approved a 2% increase in the quarterly dividend per share on the company’s Class A and Class B Common Stock, which raises the annualized dividend rate to $1.0916 per share. The quarterly dividend rate of $0.2729 is payable May 23, 2022 to shareholders of record at the close of business on May 9, 2022.

Artesian announced recently that it has entered into an agreement with the Town of Clayton to acquire the Town’s water system, which serves approximately 4,000 residents. Included in this acquisition are a water treatment plant, three wells and two elevated storage tanks. Closing is anticipated by the end of the second quarter. Clayton’s water system will be joined with Artesian’s established, regionalized water system in northern Kent County, which will serve existing and new customers in this growing area. “Our 20-year relationship with Clayton and strategic initiatives in growth, infrastructure, and investments in surrounding communities, enabled the agreement with Clayton to come to fruition and provides the Town with a sustainable approach for high-quality, safe, and reliable drinking water,” said Nicholle R. Taylor, President of Artesian Water Company.

“We are pleased to continuously deliver a fair return to our shareholders, and to deliver another dividend increase, as we have done consistently over the past 25 years,” said Dian C. Taylor, Chair and CEO.

This marks Artesian’s 118^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 core 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 supplies 8.4 billion gallons of water per year through 1,398 miles of water main to over a third of Delawareans.

Contact:
Nicholle R. Taylor
Investor Relations
(302) 453-6900
ntaylor@artesianwater.com