ISELIN, N.J., Oct. 25, 2017 -- Middlesex Water Company (Nasdaq:MSEX) announced today that its Board of Directors has declared a cash dividend of $0.22375 per share on its common stock, a 5.9% increase from the $0.21125 per share dividend in the third quarter of 2017. This increase raises the annual dividend rate to $0.895 from $0.845 per share of common stock. The declared dividend is payable on December 1, 2017 to shareholders of record as of November 9, 2017. Middlesex Water Company has paid cash dividends in varying amounts continually since 1912.
“The Company’s management and Board work on an ongoing basis to balance the needs of our shareholders, customers and employees and we continue to appreciate the loyalty of our investors,” said Chairman, President and Chief Executive Officer Dennis W. Doll. “We are pleased to be able to share the Company’s continued success with our shareholders as we keep a sharp focus on improving shareholder value while delivering quality service to our customers.”
About Middlesex Water Company
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 Relations section 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.