Middlesex Water Company Increases Common Dividend by 4.62%

Rhea-AI Summary

Middlesex Water Company (NASDAQ: MSEX) has announced a 4.62% increase in its quarterly cash dividend to $0.34 per share from $0.325, raising the annual dividend rate to $1.36 from $1.30. This marks the company's 52nd consecutive year of dividend increases. The dividend is payable on December 2, 2024, to shareholders of record as of November 15, 2024. The company, which provides regulated and unregulated water and wastewater utility services in New Jersey and Delaware, has maintained continuous dividend payments since 1912.

Positive

• 52-year track record of consecutive dividend increases
• 4.62% increase in quarterly dividend to $0.34 per share
• Long-standing history of dividend payments since 1912

Negative

• None.

News Market Reaction

-0.14%

1 alert

-0.14% News Effect

On the day this news was published, MSEX declined 0.14%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

52 Years of Consecutive Dividend Increases

ISELIN, N.J., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ: MSEX) announced today that its Board of Directors has declared a quarterly cash dividend of $0.34 per share on its common stock, a 4.62% increase from the $0.325 per share dividend last declared in July 2024. This increase raises the annual dividend rate to $1.36 from $1.30 per share of common stock and marks Middlesex’s 52nd consecutive year of dividend increases. The dividend at the new rate is payable December 2, 2024, to shareholders of record as of November 15, 2024. Middlesex Water Company has paid cash dividends in varying amounts continually since 1912.

Middlesex Water Company provides regulated and unregulated water and wastewater utility services primarily in New Jersey and Delaware through various subsidiary companies. Information about Middlesex Water, including information about its Investment Plan, is available on the Investors section of the Company’s website and its shareholder portal.

About Middlesex Water Company

Established in 1897, Middlesex Water Company serves as a trusted provider offering life-sustaining high quality water service for residential, commercial, industrial and fire protection purposes. The company offers a full range of water, wastewater utility and related services. The company and its subsidiaries form the Middlesex Water family of companies, which collectively serve a population of half a million people in New Jersey and Delaware. Middlesex is focused on meeting the needs of our employees, customers, and shareholders. We invest in our people, our infrastructure, and the communities we serve to support reliable and resilient utility services, economic growth, and quality of life.

Contact:
Bernadette Sohler, Vice President – Corporate Affairs
Middlesex Water Company
(732) 638-7549
www.middlesexwater.com

FAQ

What is Middlesex Water's new quarterly dividend amount for 2024?

Middlesex Water Company (MSEX) has increased its quarterly dividend to $0.34 per share, effective December 2024.

When will MSEX pay its next dividend in 2024?

The next dividend payment is scheduled for December 2, 2024, for shareholders of record as of November 15, 2024.

How many consecutive years has MSEX increased its dividend?

Middlesex Water Company has increased its dividend for 52 consecutive years, maintaining continuous dividend payments since 1912.

What is MSEX's new annual dividend rate for 2024?

The new annual dividend rate is $1.36 per share, increased from the previous rate of $1.30 per share.