Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Artesian Resources (ARTNA) have what it takes?
Artesian Resources just upped its quarterly dividend paid to shareholders. Customer growth and new water rates pushed revenue and diluted EPS higher in Q3. ARTNA's debt-to-capital ratio implies that it is financially secure.
Artesian Resources (ARTNA) came out with quarterly earnings of $0.66 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.49 per share a year ago.
Having hiked its dividend for 29 years straight, Artesian Resources is a Dividend Champion. Thanks to higher water rates and customer growth, the utility's revenue and diluted EPS climbed in Q2. Artesian Resources' balance sheet is well capitalized.
Artesian Resources is a regulated monopoly water utility with steady growth, consistent dividends, and is currently undervalued, making it a long-term buy for dividend growth investors. The company has a robust capital investment program, partnerships, and M&A activities, contributing to revenue growth. Artesian Resources boasts a 32-year streak of dividend increases, with a current yield of 3.27%, supported by a 65% payout ratio and strong cash flow.
Artesian Resources (ARTNA) came out with quarterly earnings of $0.52 per share, missing the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.44 per share a year ago.
Water stocks don't really need much in terms of fundamental justification. It's the one resource that is easily the most precious.
Artesian Resources is a Dividend Champion that doesn't get a lot of attention. The relatively positive resolution of its Delaware rate case means that solid growth should lie ahead for the foreseeable future. ARTNA's interest coverage ratio improved to 3 in the first quarter.