Middlesex Water raises dividend for 45th year

Water utility Middlesex Water Company (MSEX) will raise its dividend by almost six percent in 2017.

The quarterly dividend will be increased to $0.22 per share in 2017, marking 45 years of higher dividends.

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.”

The current dividend yield for MSEX is 2%. Year-to-date the stock has gained 4 percent. In 2015 the dividend was raised by 3.2 percent.

Middlesex Water Company is a water utility 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. The Middlesex System treats, stores and distributes water for residential, commercial, industrial and fire protection purposes.