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 20, 2025, the last closing sale price as reported by the Nasdaq Global Select Market was $31.36 per share. As of March 20, 2025 there were 480 holders of record of the Class A Non-Voting Stock. The stockholders of Class A Non-Voting
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
2024
First Quarter
$
41.73
$
33.84
Second Quarter
$
41.29
$
33.34
Third Quarter
$
41.29
$
34.96
Fourth Quarter
$
37.35
$
30.99
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
18
Table of Contents
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 20, 2025, the last reported trade of the Class B Stock on the OTC Bulletin Board was at a price of $31.61 per share on March 19, 2025. As of March 20, 2025, there were 134 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 Non-Voting Stock.
Recent Sales of Unregistered Securities
During the year ended December 31, 2024 we did not issue any unregistered shares
of our Class A Non-Voting Stock or Class B Stock.
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 2019 (assuming a $100 investment on December 31, 2019, and the reinvestment of any dividends) through December 2024:
INDEXED RETURNS
Base Period
Years Ending December 31
Company Name / Index
2019
2020
2021
2022
2023
2024
Artesian Resources Corporation
100
102.47
131.39
169.87
122.94
96.87
S&P 500 Index
100
118.40
152.39
124.79
157.69
197.02
Peer Group
100
115.32
142.97
122.40
105.25
100.73
The Peer Group includes American States Water Company, American Water Works Company, Inc., Essential Utilities, Inc., California Water Service Group,
Middlesex Water Company, SJW Group and York Water Company.
19
Table of Contents
ITEM 6.
RESERVED