Middlesex Water Declares Dividend

Rhea-AI Summary

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.

Positive

• Cash dividend of $0.29 per share enhances shareholder value.
• 49 consecutive years of annual dividend increases reflect strong financial performance.

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• None.

ISELIN, N.J., July 22, 2022 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) announced that its Board of Directors has declared a cash dividend of $0.29 per share on its common stock payable on September 1, 2022 to holders of record as of August 12, 2022. Middlesex Water has paid cash dividends in varying amounts continually since 1912 and has increased its annual dividend rate for 49 consecutive years.

Middlesex Water is an investor-owned water and wastewater utility, serving customers primarily in central and southern New Jersey and Delaware. The Company’s current 3% discount on all Common Stock purchases, made under its Investment Plan whether by optional cash payment or by dividend reinvestment, concludes on August 1, 2022.

Information about Middlesex Water’s Investment Plan (Direct Share Purchase and Sale and Dividend Reinvestment Plan) is available in the Investors section at https://www.middlesexwater.com.

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 also 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
www.middlesexwater.com

FAQ

What is the dividend amount for MSEX in 2022?

Middlesex Water Company declared a cash dividend of $0.29 per share for 2022.

When will MSEX pay its dividend?

The dividend will be paid on September 1, 2022.

What is the record date for MSEX's dividend?

The record date for the dividend is August 12, 2022.

How long has MSEX been paying dividends?

Middlesex Water Company has paid cash dividends continuously since 1912.

What is the discount on stock purchases under MSEX's Investment Plan?

Currently, there is a 3% discount on common stock purchases under the Investment Plan, which ends on August 1, 2022.