ARTESIAN RESOURCES CORP 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information for the Company’s Common Equity Artesian Resources' Class A Non-Voting Common Stock, or Class A Stock, is listed on the Nasdaq Global Select Market and trades under the symbol "ARTNA." On March 7, 2023, the last closing sale price as reported by the Nasdaq Global Select Market was $55.13 per share. As of March 7, 2023 there were 528 holders of record of the Class A Stock. The stockholders of Class A shares are entitled to receive dividends when they are declared by the Board of Directors. The Company has a long history of paying regular quarterly dividends as approved by our Board of Directors using net cash from operating activities. See the Consolidated Financial Statements for additional information regarding the Company’s dividend history. The intraday high and low Nasdaq Global Select Market prices on the Class A Stock for each quarter during the past two years were: Stock Price High Low 2022 First Quarter $ 50.88 $ 43.02 Second Quarter $ 50.00 $ 44.08 Third Quarter $ 60.36 $ 47.96 Fourth Quarter $ 59.98 $ 45.44 2021 First Quarter $ 42.70 $ 36.68 Second Quarter $ 42.10 $ 35.90 Third Quarter $ 40.44 $ 36.55 Fourth Quarter $ 47.99 $ 37.60 Our Class B Common Stock, or Class B Stock, is quoted on the OTC Bulletin Board under the symbol "ARTNB." There has been a limited and sporadic public trading market for the Class B Stock. As of March 1, 2023, the last reported trade of the Class B Stock on the OTC Bulletin Board was at a price of $53.00 per share on February 9, 2023. As of March 7, 2023, there were 137 holders of record of the Class B Stock. The Class B shares are paid the same dividend as the Class A shares. Recent Sales of Unregistered Securities During the year ended December 31, 2022, we did not issue any unregistered shares of our Class A or Class B Stock. 18 Table of Contents The following graph compares the percentage change in cumulative shareholder return on the Company’s Class A Stock with the Standard & Poor’s 500 Stock Index and a Peer Group of water utility companies. The graph covers the period from December 2017 (assuming a $100 investment on December 31, 2017, and the reinvestment of any dividends) through December 2022: INDEXED RETURNS Base Period Years Ending December 31 Company Name / Index 2017 2018 2019 2020 2021 2022 Artesian Resources Corporation 100 92.81 101.77 104.28 133.71 172.88 S&P 500 Index 100 95.62 125.72 148.85 191.58 156.88 Peer Group 100 100.28 135.27 156.00 193.40 165.56 The Peer Group includes American States Water Company, American Water Works Company, Inc., Essential Utilities, Inc., California Water Service Group, Connecticut Water Service, Inc. (included through October 9, 2019 when it was acquired by SJW Group), Middlesex Water Company, SJW Group and York Water Company. 19 Table of Contents ITEM 6. RESERVED