ISELIN, NJ, October 20, 2021 (GLOBE NEWSWIRE) – Middlesex Water Company (NASDAQ: MSEX) today announced that its board of directors has declared a cash dividend of $ 0.29 per share on its common stock, an increase of 6.4% over the dividend of $ 0.2725 per share declared in July 2021. This increase brings the annual dividend rate to $ 1.16, compared to $ 1.09 per common share. The dividend is payable on December 1, 2021 to shareholders of record on November 16, 2021. Middlesex Water Company has paid cash dividends of varying amounts continuously since 1912.
“We understand the importance of a dividend and are proud to continue to share in the success of our company by announcing an annual dividend increase for the 49e year in a row, ”said Dennis W. Doll, Chairman, President and Chief Executive Officer. “Our company has a long history of delivering dividends and our dedicated teams are constantly working to improve the quality of our operations and services and generate shareholder value,” he added.
Middlesex Water Company is an investor-owned water and wastewater company serving customers primarily in central and southern New Jersey and Delaware. The Company is currently offering a 3% rebate on all common share purchases made as part of its investment plan, whether through optional cash payment or reinvestment of dividends. Discount will continue until 200,000 shares are purchased at the discounted price or August 1, 2022, whichever occurs first. To learn more, visit https://shareholder.broadridge.com/middlesexwater
ABOUT MIDDLESEX WATER COMPANY
Founded in 1897, Middlesex Water Company is a trusted provider of high quality life sustaining water service for residential, commercial, industrial and fire protection purposes. The Company offers a full range of water, wastewater and related services. An investor-owned utility company, Middlesex Water is a professional service provider specializing in municipal and industrial contracting operations as well as technical operation and maintenance of water and sewer systems. The company and its subsidiaries form the Middlesex Water family of companies, which collectively serves 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 public 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 the Private Securities Litigation Reform Act of 1995, including, among other things, our long-term strategy and expectations, the state of our acquisition program, the impact of our acquisitions, ‘impact of 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 these forward-looking statements, including: general economic conditions, adverse weather conditions, the success of certain cost containment initiatives, changes in regulation or regulatory treatment, availability and cost of capital, success of growth initiatives and other factors discussed in our filings with the Securities and Exchange Commission.
Bernadette Sohler, Vice-president – Corporate Affairs
Middlesex Water Company