Middlesex Water Company increases dividend for 47th consecutive year
Middlesex Water Company (MSEX) will raise its dividend for the 47th consecutive year in 2019.The water utility company will increase its quarterly dividend by 6.8%. The stock currently yields 1.6%.
Middlesex will raise its quarterly dividend to $0.25625 per share 2019, marking the 47th year of higher dividend payments. Last year MSEX hiked its dividend by 7.3 percent.
This increase raises the annual dividend rate to $1.025 from $0.96 per share of common stock. The declared dividend is payable on December 2, 2019 to shareholders of record as of November 15, 2019. Middlesex Water Company has paid cash dividends in varying amounts continually since 1912.
“The increase in the dividend reflects our continued confidence in Middlesex Water’s ability to return value for our shareholders,” said Chairman, President and Chief Executive Officer Dennis W. Doll.
Middlesex Water has paid cash dividends in varying amounts continually since 1912 and has increased its annual dividend rate for 47 consecutive years. The company is not a Dividend Aristocrat.
Organized in 1897, Middlesex Water provides regulated and unregulated water and wastewater utility services in New Jersey, Delaware and Pennsylvania through various subsidiary companies.
