Middlesex Water CEO Dennis Doll to retire Dec 2023; Q1 net income drops 51% to $5.9M

MIDDLESEX WATER CO

Shareholders re-elected Class III directors and approved say-on-pay; Baker Tilly ratified as auditor.
Q1 2023 net income $5.9M ($0.33 EPS) vs $12.1M ($0.68) prior year; prior year included gain on wastewater sale.
CEO Dennis Doll to retire December 2023; no successor named yet.
2023 capex plan of $111M includes PFAS treatment, lead service line replacement, and DE system interconnections.
Filed for $34M (31.2%) base rate increase in NJ; Tidewater expected to file for rate increase H2 2023.

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