Group 1 - The article emphasizes that consecutive years of dividend growth serve as a clear measure of quality for established dividend-paying companies, indicating their maturity and stability [1] - The author has been involved in dividend investing since 2009 and has documented their journey towards financial independence through a blog focused on dividend growth investing [1] Group 2 - The article does not provide specific investment recommendations or advice, highlighting that past performance does not guarantee future results [2] - It notes that the views expressed may not reflect those of Seeking Alpha as a whole, and the analysts are third-party authors who may not be licensed or certified [2]

Core Viewpoint - Artesian Resources is a small water utility with growth potential, operating as a regulated monopoly, which allows for steady growth and consistent dividend increases. The stock is currently undervalued, with a high yield and acceptable safety, making it a long-term buy for dividend growth investors [1]. Company Overview - Founded in 1905, Artesian Resources provides water and wastewater services in Delaware, Maryland, and Pennsylvania, serving 301,000 people and delivering 8.8 billion gallons of water annually through extensive infrastructure [2]. - The company reported total revenue of over $98.9 million in 2023 and $103.1 million in the last twelve months [2]. Revenue and Earnings Growth - Revenue and earnings per share (EPS) have generally trended upward over the past decade, with a record revenue of $98.9 million in 2022, slightly declining to $98.86 million in 2023. Revenue growth is typically in the low-to-mid single digits [3]. Market and Growth Potential - Delaware's population growth of approximately 1% to 1.5% annually contributes to an expanding customer base, with Artesian Resources engaging in partnerships and M&A to enhance growth. The company has applied for a rate increase, which was approved at 15% for June 2024 [4][6]. Challenges - Despite growth potential, Artesian Resources faces limitations due to Delaware's small initial population and limited M&A opportunities. The company also contends with risks such as cyber-attacks and natural disasters [8]. Competitive Advantages - As a regulated monopoly, Artesian Resources benefits from stable revenue and cash flow, with a recession-resistant business model. Revenue and EPS grew during the COVID-19 pandemic, highlighting its essential service nature [9]. Dividend Analysis - The decline in share price has led to a dividend yield of 3.27%, higher than the 5-year average of 2.59%. Artesian Resources has a 32-year streak of dividend increases, with an annual growth rate of 3% to 4% [10][11]. - The payout ratio is 65% based on an estimated 2024 EPS of $1.92, supported by operating cash flow of $32 million in 2023 [11]. Valuation - The current share price of approximately $36.11 suggests that Artesian Resources is slightly undervalued, with a fair value estimate of $38.40 based on a P/E ratio of 20X. Sensitivity analysis indicates a fair value range of $36.48 to $40.32 [12]. Final Thoughts - Water utilities like Artesian Resources are favorable for dividend growth investors due to their stable characteristics. The company is expected to rebound in 2024 due to rate increases and potential interest rate cuts, making it an attractive long-term investment [13].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 000-18516 ARTESIAN RESOURCES CORPORATION -------------------------------------------------------------- (Exact nam ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): August 6, 2024 ARTESIAN RESOURCES CORP (Exact name of registrant as specified in its charter) | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------- ...

Water stocks don’t really need much in terms of fundamental justification. It’s the one resource that is easily the most precious. Sure, you can talk about gold or some other important asset that features significant industrial or technological implications: lithium comes readily to mind. However, as far as I know, you can’t eat lithium.On a less-existential note, investing in water stocks isn’t just about the underlying core human necessity. Because of the underlying utility and scarcity, companies spend b ...

NEWARK, Del., June 25, 2024 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (NASDAQ:ARTNA) announced that its Annual Charitable Golf Outing raised nearly $135,000, bringing the thirteen-year total to $875,000. Over 175 golfers representing Artesian's valued vendors and business partners gathered on June 3rd at the DuPont Country Club in Wilmington, Delaware to support local charitable organizations. "We are immensely grateful for the generous support from our business partners to be able to once again ha ...

NEWARK, Del., June 25, 2024 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA) announced that its Annual Charitable Golf Outing raised nearly $135,000, bringing the thirteen-year total to $875,000. Over 175 golfers representing Artesian’s valued vendors and business partners gathered on June 3rd at the DuPont Country Club in Wilmington, Delaware to support local charitable organizations. “We are immensely grateful for the generous support from our business partners to be able to once again h ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 000-18516 ARTESIAN RESOURCES CORPORATION -------------------------------------------------------------- (Exact na ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 000-18516 51-0002090 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 664 Churchmans Road Newark, Delaware 19702 (Address of principal executive offices) (Zip code) FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): May 6, 2024 ARTESIAN RESOURCES CORP (Exact name of registrant as ...

NEWARK, Del., May 06, 2024 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (NASDAQ:ARTNA) announces today that its Board of Directors has approved a 2% increase in the quarterly dividend per share on the company's Class A and Class B Common Stock, raising the annualized dividend to $1.182 per share. The quarterly dividend rate of $0.2955 per share is payable May 28, 2024 to shareholders of record at the close of business on May 17, 2024. "This is Artesian's 126th consecutive quarterly dividend paid to sh ...