Middlesex Water Co - MSEX STOCK NEWS

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.

Middlesex Water Company (NASDAQ:MSEX) declared a cash dividend of $0.2725 per share, payable on September 1, 2021, to shareholders on record as of August 13, 2021. With a history of continuous dividends since 1912 and an annual increase over the past 48 years, the company demonstrates its commitment to returning value to shareholders. Middlesex Water provides essential water and wastewater utility services across New Jersey and Delaware, serving nearly half a million residents and businesses, while focusing on reliable infrastructure and community investment.

Middlesex Water Company (NASDAQ:MSEX) has appointed Vaughn L. McKoy as a new member of its Board of Directors. With over 25 years of experience in legal and corporate governance, McKoy has held significant roles in various organizations, including Public Service Enterprise Group. He brings a wealth of knowledge in regulatory matters and compliance, which Middlesex aims to leverage for enhancing its utility services. The company emphasizes its commitment to quality, serving nearly half a million customers across New Jersey and Delaware.

Middlesex Water Co. (MSEX) is set to join the S&P SmallCap 600 index on July 15, 2021, replacing Luminex Corp. (LMNX), which is being acquired by DiaSorin S.p.A. This change will be effective prior to the market's opening on that date. The addition of Middlesex Water underscores its growth and stability in the utilities sector, while Luminex's removal reflects the implications of its pending acquisition. The decision was made by S&P Dow Jones Indices, which oversees significant financial market indicators.

Middlesex Water Company (NASDAQ:MSEX) held its Annual Meeting of Shareholders online on May 25, 2021. During this meeting, shareholders re-elected board members and approved executive compensation. The company emphasized its critical role in public health during the COVID-19 pandemic and discussed financial results from 2020 and Q1 2021, alongside ongoing infrastructure investments.

For more details, an audio webcast of the meeting is archived for a year at www.virtualshareholdermeeting.com/MSEX2021.

Middlesex Water Company (NASDAQ:MSEX) filed a petition with the New Jersey Board of Public Utilities for a rate increase of approximately $31 million to address the aging drinking water infrastructure and improve overall service quality. This request responds to significant investments made since the last rate filing in October 2017, including over $267 million under the Water For Tomorrow® program. If approved, the average residential customer would see a bill increase of around 67 cents per day.