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 announced the implementation of an interim plan to ensure water supply meets new PFOA standards by shutting down affected wells. This plan will source water from alternative facilities compliant with all drinking water standards. The company, in collaboration with state regulators, emphasizes ongoing monitoring to meet customer demand while the affected wells remain offline until treatment improvements at the new facility are completed in mid-2023. Customers will receive notifications regarding the status of the wells and the ongoing changes.
Middlesex Water Company (NASDAQ:MSEX) will present at the Bank of America Securities 2021 Virtual Water Conference on December 6, 2021, at 8:15 AM EST. CEO Dennis W. Doll will discuss financial performance, capital investments, and strategic initiatives. Investors can access the live audio presentation on Middlesex Water's website, where a replay will also be available. Established in 1897, Middlesex Water serves nearly 500,000 people across New Jersey and Delaware, focusing on high-quality water services and infrastructure investment.
Middlesex Water Company (NASDAQ:MSEX) announced a correction to its October 29, 2021 press release regarding its third-quarter financial results. The record date for the upcoming dividend has been corrected from November 13, 2021, to November 16, 2021. The dividend is payable on December 1, 2021. Middlesex Water, founded in 1897, provides essential water and wastewater services to nearly half a million residents in New Jersey and Delaware. The company focuses on investing in infrastructure and community services to ensure reliable utility services.
Middlesex Water Company (NASDAQ:MSEX) reported a decrease in earnings for Q3 2021, with diluted EPS at $0.65 compared to $0.72 in Q3 2020. Net income fell by $1.3 million to $11.5 million. Operating revenues remained stable at $39.9 million, influenced by customer growth in Delaware but offset by reduced demand in New Jersey. Expenses increased due to higher labor and treatment costs, with depreciation expenses also rising. The company declared a dividend of $0.29 per share, a 6.4% increase from the previous dividend.
Middlesex Water Company (NASDAQ:MSEX) has declared a cash dividend of $0.29 per share, reflecting a 6.4% increase from the previous dividend. This raises the annual dividend rate to $1.16 from $1.09. The dividend is set for payment on December 1, 2021, to shareholders recorded by November 16, 2021. This marks the 49th consecutive year of dividend increases for the company, which has been paying dividends since 1912.
Middlesex Water Company has announced that CEO Dennis Doll will participate in a Virtual Water Utilities Conference on September 14, 2021, at 10:00 a.m. (ET). The event, hosted by Janney Montgomery Scott, will feature an update on company developments presented by Mr. Doll. Interested parties can access the live webcast and a subsequent replay on the Middlesex Water website or through the conference link. Established in 1897, Middlesex Water Company is a trusted provider of water and wastewater services, serving nearly half a million people across New Jersey and Delaware.
Middlesex Water Company (NASDAQ:MSEX) announced the sale of its regulated Delaware wastewater utility to Artesian Wastewater Management for $6.4 million. This acquisition involves Tidewater Environmental Services, which serves 3,600 wastewater customers in Sussex County. The transaction awaits approval from the Delaware Public Service Commission and is expected to finalize by December 31, 2021. Middlesex will retain its other utility operations in Delaware.
Middlesex Water Company (NASDAQ:MSEX) announced a 3% discount on its Common Stock purchases through its Investment Plan, effective September 1, 2021. The discount applies to optional cash payments and dividend reinvestments, available until either 200,000 shares are sold or August 1, 2022. Shares will be priced at 97% of the fair market value as defined in the Plan documents. Proceeds will fund infrastructure projects under the Water For Tomorrow® initiative, aiming to enhance service quality and reliability for users.
Middlesex Water Company (NASDAQ:MSEX) reported a solid second quarter in 2021, with revenues increasing by $1.4 million to $36.7 million year-over-year, driven by retail demand and customer growth. Net income rose by $1.2 million to $10.9 million, resulting in diluted EPS of $0.62, up from $0.55 in Q2 2020. Operating expenses also saw a slight increase due to higher maintenance costs. Additionally, the Board declared a dividend of $0.2725 per share payable on September 1, 2021, signaling ongoing shareholder returns amidst capital improvements and rate relief efforts.
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