Middlesex Water Company Declares Quarterly Cash Dividend

Rhea-AI Summary

Middlesex Water Company (NASDAQ:MSEX) announced a cash dividend of $0.29 per share on its common stock, payable on March 1, 2022, to shareholders of record by February 14, 2022. The company has consistently paid cash dividends since 1912, showcasing its commitment to rewarding shareholders. Additionally, Middlesex is offering a 3% discount on common stock purchases made under its Investment Plan until either 200,000 shares are purchased at the discounted price or August 1, 2022.

Positive

• Dividend of $0.29 per share demonstrates strong shareholder return.
• Continual dividend payments since 1912 indicate solid financial stability.
• 3% discount on stock purchases under Investment Plan encourages investment.

Negative

• None.

ISELIN, N.J., Jan. 27, 2022 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) announced today that its Board of Directors has declared a cash dividend of $0.29 per share on its common stock, payable March 1, 2022 to shareholders of record as of February 14, 2022. Middlesex Water Company has paid cash dividends in varying amounts continually since 1912.

Middlesex Water Company is an investor-owned water and wastewater utility, serving customers primarily in central and southern New Jersey and Delaware.  The Company is currently offering a 3% discount on all Common Stock purchases made under its Investment Plan whether by optional cash payment or by dividend reinvestment. The discount will continue until 200,000 shares are purchased at the discounted price or August 1, 2022, whichever event occurs first. To learn more visit https://shareholder.broadridge.com/middlesexwater

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. An investor-owned public utility, Middlesex Water is a professional services provider specializing in municipal and industrial contract operations and water and wastewater system technical operations and maintenance. The company and its subsidiaries form the Middlesex Water family of companies, which collectively serve a population of nearly 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. To learn more about Middlesex Water, visit https://www.middlesexwater.com

This press release contains “forward‐looking statements” within the meaning of U.S. federal securities laws reflecting the current beliefs or expectations of Middlesex Water Company “MSEX” or the “Company” regarding its future performance, its financial condition, its strategic plans and cash flows, its results of operations as well as any other statements that do not directly relate to any historical or current facts. These statements reflect the Company’s current views and information currently available.  This information is based on estimates, assumptions and analysis that the Company believes, as of the date hereof, provide a reasonable basis for the information contained herein.  Forward‐looking statements can generally be identified by the use of forward‐looking words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “foresees.” Actual results, performance or achievements may differ materially from forward‐looking statements, and the assumptions on which forward-looking statements are based.  There can be no assurance that the information contained herein is reflective of future performance, and investors are cautioned not to place undue reliance on forward‐looking statements as a predictor of future performance. Unless otherwise specified, all information contained in this press release speaks only as of the date hereof. The Company undertakes no duty to update or revise the information contained herein, whether as a result of new information, future events or otherwise.

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

FAQ

What is the dividend amount declared by Middlesex Water Company?

Middlesex Water Company declared a dividend of $0.29 per share.

When will Middlesex Water Company's dividend be paid?

The dividend will be paid on March 1, 2022.

What is the record date for the dividend payment?

The record date for the dividend payment is February 14, 2022.

Is there a discount on stock purchases from Middlesex Water Company?

Yes, there is a 3% discount on stock purchases made under its Investment Plan.

What is the duration of the discount on stock purchases?

The discount will last until either 200,000 shares are purchased at the discounted price or August 1, 2022.