Welcome to our dedicated page for Middlesex Water news (Ticker: MSEX), a resource for investors and traders seeking the latest updates and insights on Middlesex Water stock.
Middlesex Water Company reports developments for a regulated water and wastewater utility serving customers in New Jersey and Delaware through the Middlesex System and Tidewater Utilities. Company news commonly covers quarterly and annual earnings, infrastructure investment, rate proceedings, customer consumption and growth, cash dividends, and system acquisitions.
Updates also include subsidiary actions such as Delaware water system operations, PFAS-related customer credits, contract services, and executive finance and accounting appointments. The company's recurring disclosures connect utility capital programs, regulatory outcomes, customer service, and non-regulated service activity.
Middlesex Water Company (NASDAQ:MSEX) will participate in the Bank of America Securities 2022 Virtual Water Conference on December 6, 2022, at 2:15 PM. Key representatives, including Chairman Dennis Doll, will discuss financial performance and recent developments in the water sector. Investors can access the live webcast at this link, and a replay will be available shortly after. Established in 1897, Middlesex provides high-quality water and wastewater services to nearly half a million people in New Jersey and Delaware.
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Middlesex Water Company (NASDAQ:MSEX) reported a 19.7% increase in quarterly operating revenue, totaling $47.7 million, and a 24.5% rise in net income to $14.3 million for Q3 2022. Diluted earnings per share reached $0.80, up from $0.65 in Q3 2021. The growth was driven by a base rate increase in New Jersey and higher customer demand. Operating expenses rose by $1.4 million, primarily due to increased main break activity and labor costs. The company declared a cash dividend of $0.3125, marking its 50th consecutive year of dividend increases, effective December 1, 2022.
Middlesex Water Company (NASDAQ:MSEX) announced a cash dividend increase of 7.76%, raising it to $0.3125 per share from $0.29. This elevates the annual dividend rate to $1.25 from $1.16, payable on December 1, 2022 to shareholders as of November 16, 2022. This milestone marks the company's 50th consecutive year of dividend increases, reflecting its commitment to shareholder value and operational excellence.
Middlesex Water Company (NASDAQ:MSEX) announced a cash dividend of $0.3125 per share, marking a 7.6% increase from the previous $0.29 dividend declared in July 2022. This raises the annual dividend rate to $1.25 from $1.16 per share. The dividend is payable on December 1, 2022 to shareholders of record as of November 16, 2022. Celebrating its 125th anniversary, Middlesex Water achieved its 50th consecutive year of dividend increases, highlighting its commitment to enhancing shareholder value and operational quality.
Middlesex Water Company celebrates its 125th anniversary with the dedication of a new ozone treatment facility in Edison, New Jersey. The $70 million investment enhances water treatment processes by replacing sodium hypochlorite with ozone, ensuring compliance with stricter drinking water regulations and reducing harmful disinfection by-products. The facility was completed in 2021 in collaboration with Northeast Remsco Construction and Jacobs Engineering Group. The ceremony included recognition of the company's commitment to water quality and public health, alongside a Risk Management Excellence Award.
Middlesex Water Company (NASDAQ:MSEX) will participate in a Virtual Water Utilities Conference on September 22, 2022, at 9:00 a.m. (ET). The event, hosted by Janney Montgomery Scott, will feature Chairman Dennis W. Doll and Corporate Controller Robert J. Capko. Attendees can access the live presentation and a replay the following day. Established in 1897, Middlesex Water provides essential water and wastewater services to nearly half a million residents in New Jersey and Delaware. More details can be found on their official website.
Middlesex Water Company’s subsidiary, Utility Service Affiliates, Inc., has secured a 10-year management contract with the Borough of Avalon, New Jersey, effective September 1, 2022. This contract involves the management of the Borough’s water and sewer utility operations, including maintenance and customer services. The company has been involved in these operations for the past ten years. Middlesex Water, a provider of water and wastewater services in New Jersey and Delaware, emphasizes its capabilities in handling complex regulatory requirements and ensuring operational excellence for community residents.
Middlesex Water Company (NASDAQ:MSEX) reported second quarter 2022 results, with operating revenues rising by $3.0 million to $39.7 million compared to Q2 2021. Revenue growth in New Jersey was driven by a rate increase, while Delaware revenues declined slightly due to fewer customer connection fees and the sale of a subsidiary. Net income decreased by $2.1 million to $8.9 million, while diluted EPS fell from $0.62 to $0.50. The Board declared a quarterly dividend of $0.29, maintaining a 49-year history of annual increases.
Middlesex Water Company (NASDAQ:MSEX) has announced a cash dividend of $0.29 per share, payable on September 1, 2022. Shareholders of record must hold shares by August 12, 2022. The company has a long history of dividend payments, having paid continuously since 1912 and increasing its annual dividend for 49 consecutive years. Additionally, the current 3% discount on Common Stock purchases under its Investment Plan is set to conclude on August 1, 2022.