Utility Marks 44th Consecutive Year of Dividend Increases
ISELIN, N.J., Oct. 26, 2016 -- Middlesex Water Company (Nasdaq:MSEX) announced today that its Board of Directors declared a dividend of $0.21125 per share on its common stock, a 6.29 percent increase from the $0.19875 per share dividend in the third quarter of 2016. This increase raises the annual dividend to $0.845 from $0.795 per share of common stock. The dividend is payable on December 1, 2016 to shareholders of record as of November 10, 2016. Middlesex Water has paid cash dividends in varying amounts continually since 1912.
“This declaration represents the 44th consecutive year we have raised the dividend,” said Chairman, President and Chief Executive Officer Dennis W. Doll. “We’re pleased to share continued success with our shareholders. This action demonstrates our ongoing commitment to deliver improving shareholder value.”
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.