Artesian Resources Corporation Announces 2% Increase in Quarterly Common Stock Dividend

NEWARK, Del., May 09, 2023 (GLOBE NEWSWIRE) -- Artesian Resources Corporation 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 $1.136 per share. The quarterly dividend rate of $0.284 per share is payable May 26, 2023 to shareholders of record at the close of business on May 19, 2023.

"I am pleased to share that Artesian's Board of Directors has authorized a 2% increase in the quarterly dividend. We continue to focus on our long-term strategic objectives; successfully growing our customer base, service area and revenues, while providing enduring value to our shareholders. Artesian has delivered consistent, sustainable dividend increases for the last 26 years, generating a reliable, regular flow of income for our investors," said Dian C. Taylor, Chair, President and CEO.

This marks Artesian's 122^nd 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 supplies 8.7 billion gallons of water per year through 1,442 miles of water main to over a third of Delawareans.

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