Middlesex Watr Stock Price, News & Analysis

Middlesex Water Company (NASDAQ: MSEX) will have its Chairman, President and CEO Dennis Doll participate in the Baird Food, Fuel, and Water Symposium on June 17, 2020, at 8 a.m. EDT. During the event, Mr. Doll will give a company overview and engage in a fireside chat with Baird Sr. Research Analyst Ben Kallo, CFA, and Research Associate David Katter, focusing on Middlesex Water and the water industry.

A replay of the webcast will be available on Middlesex Water's website under the Investors section after the symposium.

Middlesex Water Company (NASDAQ: MSEX) has committed over $61,000 to support 14 organizations in New Jersey and Delaware as part of its COVID-19 relief efforts. The contributions, matched two-for-one by the company and its subsidiary, have aided local food banks and first responders. The company has also suspended water service shutoffs for non-payment and is continuing essential construction projects and workforce additions to ensure service reliability during the pandemic. Chairman Dennis W. Doll emphasized their commitment to community health and economic stability.

Middlesex Water Company (NASDAQ:MSEX) has secured a ten-year contract with the Borough of Highland Park, New Jersey, effective July 1, 2020. The contract, valued at $8.3 million, entails operating and maintaining the borough's water and wastewater systems, including 38 miles of water main and 32 miles of sewer main. The company will serve approximately 3,350 properties in the borough, with water supplied directly from Middlesex Water and wastewater managed by Middlesex County Utilities Authority. This contract underscores Middlesex's commitment to reliable service in the region.

Middlesex Water Company (NASDAQ:MSEX) held its Annual Meeting of Shareholders online on May 19, 2020, during which shareholders re-elected James F. Cosgrove, Jr. to a three-year Board term. An advisory resolution on executive officer compensation was approved, alongside the ratification of Baker Tilly Virchow Krause, LLP as the independent auditor for fiscal year 2020. The meeting highlighted the company's crucial role in public health during the COVID-19 pandemic and discussed recent financial results and ongoing infrastructure investments.

Middlesex Water (NASDAQ:MSEX) has issued a warning regarding potential water quality issues in unoccupied buildings due to stagnant water during the COVID-19 pandemic. The company emphasizes the importance of building owners conducting plumbing assessments as businesses resume operations. Stagnant water can harbor harmful bacteria, which poses health risks upon reoccupation. Middlesex Water offers resources from the CDC and other organizations to assist building managers in ensuring water safety and quality.

Middlesex Water Company (NASDAQ:MSEX) has appointed Walter G. Reinhard as Lead Independent Director, effective May 19, 2020. Reinhard, who has been an independent director for 18 years, succeeds Jeffries R. Shein, who is retiring. Reinhard currently chairs the Corporate Governance and Nominating Committee and is a member of the Pension Committee. Chairman and CEO Dennis Doll praised Reinhard's expertise, ensuring strong governance. Middlesex Water has been providing utility services in New Jersey and Delaware since 1897. For more details, visit their investor section.

Middlesex Water Company (NASDAQ:MSEX) reported a strong first quarter for 2020, with operating revenues rising by $1.1 million to $31.8 million compared to $30.7 million in 2019. Net income increased by 17%, reaching $1.1 million over the previous year. Diluted earnings per share rose to $0.44, up from $0.39 in Q1 2019. The company also activated critical operational plans in response to the COVID-19 pandemic, ensuring service continuity. A dividend of $0.25625 per share was declared, payable on June 1, 2020.