Middlesex Water Company Announces Quarterly Cash Dividend Increase of 7.3%
October 24 2018 - 3:11PM
Utility Marks 46th Consecutive Year of Dividend
Increases
Middlesex Water Company (Nasdaq:MSEX) announced today that its
Board of Directors has declared a cash dividend of $0.24 per share
on its common stock, a 7.3% increase from the $0.22375 per share
dividend in the third quarter of 2018. This increase raises
the annual dividend rate to $0.96 from $0.895 per share of common
stock. The declared dividend is payable on December 3, 2018 to
shareholders of record as of November 15, 2018. Middlesex
Water Company has paid cash dividends in varying amounts
continually since 1912.
“The ability to increase the dividend is due in no small part to
the dedicated and committed workforce that effectively manages all
facets of our businesses,” said Chairman, President and Chief
Executive Officer Dennis W. Doll. “As we continue to invest in
drinking water infrastructure through our Water For Tomorrow
program, we appreciate the support and confidence of our
shareholders.”
Organized in 1897, Middlesex Water provides regulated and
unregulated water and wastewater utility services in New Jersey,
Delaware and Pennsylvania through various subsidiary
companies. To learn more about Middlesex Water, including
information about its Direct Share Purchase and Sale and Dividend
Reinvestment Plan, visit the Investor section of our website
at www.middlesexwater.com or call (732) 638-7549.
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, among others, our long-term strategy and expectations,
the status of our acquisition program, the impact of our
acquisitions, the impact of current and projected rate requests and
the impact of our capital program on our environmental compliance.
There are important factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements including: general economic business
conditions, unfavorable weather conditions, the success of certain
cost containment initiatives, changes in regulations or regulatory
treatment, availability and the cost of capital, the success of
growth initiatives and other factors discussed in our filings with
the Securities and Exchange Commission.
Contact: Bernadette Sohler,
Vice President – Corporate Affairs Middlesex Water Company 1500
Ronson Road Iselin, New Jersey 08830 (732) 638-7549
www.middlesexwater.com
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