Item 5. Market for Registrant’s Common Equity
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 Non-Voting Stock, is listed on the Nasdaq Global Select Market and trades under the symbol
"ARTNA." On March 12, 2024, the last closing sale price as reported by the Nasdaq Global Select Market was $36.25 per share. As of March 12, 2024 there were 506 holders of record of the Class A Non-Voting Stock. The stockholders of Class A Stock 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 Non-Voting Stock for each quarter during the past two years were:
Stock Price
High
Low
2023
First Quarter
$
63.00
$
51.30
Second Quarter
$
58.41
$
46.37
Third Quarter
$
49.73
$
41.26
Fourth Quarter
$
44.78
$
38.76
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
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 4, 2024, the last reported trade of the Class B Stock on the OTC Bulletin Board was at a price of $36.00 per share on March 4, 2024. As of March 12, 2024, there were 136 holders of record of the Class
B Stock. Shares of Class B Stock are paid the same dividend as the shares of the Class A Stock.
Recent Sales of Unregistered Securities
During the year ended December 31, 2023, we did not issue any unregistered
shares of our Class A Non-Voting Stock or Class B Stock.
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The following graph compares the percentage change in cumulative shareholder return on the Company’s Class A Non-Voting Stock with the Standard & Poor’s
500 Stock Index and a Peer Group of water utility companies. The graph covers the period from December 2018 (assuming a $100 investment on December 31, 2018, and the reinvestment of any dividends) through December 2023:
INDEXED RETURNS
Base Period
Years Ending December 31
Company Name / Index
2018
2019
2020
2021
2022
2023
Artesian Resources Corporation
100
109.66
112.37
144.07
186.27
134.81
S&P 500 Index
100
131.49
155.68
200.37
164.08
207.21
Peer Group
100
134.89
155.56
192.86
165.11
141.97
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.
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ITEM 6.
RESERVED