Welcome to our dedicated page for Middlesex Watr news (Ticker: MSEX), a resource for investors and traders seeking the latest updates and insights on Middlesex Watr stock.
Middlesex Water Company (NASDAQ: MSEX) is a prominent provider of regulated and non-regulated water and wastewater utility services in New Jersey, Delaware, and Pennsylvania. Established in 1897, the company has grown to serve nearly half a million people, offering essential services that enhance the quality of life and support economic development in the regions it operates.
The company's core business involves the collection, treatment, distribution, and sale of water for domestic, commercial, municipal, industrial, and fire protection purposes. Operating through two segments—Regulated and Non-Regulated—Middlesex Water derives most of its revenue from the Regulated segment, which serves residential, commercial, industrial, and fire protection consumers. The Non-Regulated segment focuses on contract services for private water and wastewater system operations, providing a comprehensive suite of solutions to smaller system owners, developers, and municipalities.
Middlesex Water’s commitment to innovation is evident in its turnkey renewable energy services. These services align with the company's broader mission to balance the needs of its employees, customers, and shareholders while investing in infrastructure and communities. Financially, Middlesex Water has shown resilience and adaptability. For instance, revenues for the quarter ended June 30, 2023, rose by $3.1 million to $42.8 million, driven by a New Jersey Board of Public Utilities (NJBPU)-approved base rate increase and higher customer demand.
The company has also undertaken significant projects, such as the construction of a new facility to treat groundwater for PFAS compounds, ensuring compliance with stringent state and federal standards. Another notable effort is their $9.7 million project to upgrade Woodbridge, New Jersey’s drinking water infrastructure, part of their ongoing RENEW initiative.
In terms of leadership, Middlesex Water has recently welcomed Nadine Leslie as the new President and CEO. With over 25 years of experience in the water industry, Leslie brings a wealth of knowledge and a fresh perspective to the company.
For investors, Middlesex Water offers stability and growth. The company has paid cash dividends continuously since 1912 and has increased its annual dividend rate for fifty-one consecutive years. As an investor-owned public utility, Middlesex Water is dedicated to maintaining high standards of service quality, reliability, and compliance with regulatory requirements.
To learn more about Middlesex Water Company and its services, visit https://www.middlesexwater.com.
Middlesex Water Company (NASDAQ:MSEX) has declared a cash dividend of $0.3125 per share, payable on March 1, 2023, to shareholders of record as of February 14, 2023. This marks a continuation of the company’s commitment to returning value to shareholders, having consistently paid dividends since 1912. The company provides regulated and unregulated water and wastewater utility services primarily in New Jersey and Delaware, serving nearly 500,000 people through various subsidiaries. Middlesex Water aims to support economic growth and quality of life through investments in infrastructure and community services.
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.
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.
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