Middlesex Water increases dividend for 42nd consecutive year

Middlesex Water Company (MSEX) will raise its dividend by 1.3% in 2014.

The quarterly dividend is increased from $0.19 to $0.1925 per share and represents the 42nd consecutive year that Middlesex Water Company has hiked its quarterly dividend.

The new annual dividend rate of $0.77 translates into an estimated dividend yield of 3.7% based on Wednesday's closing price of $20.78.

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.

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