secwatch.observer — SEC 8-K summary
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Issuer:     MIDDLESEX WATER CO (MSEX)
CIK:        0000066004
Form:       8-K
Filed at:   2023-02-24T23:59:59+00:00
Accession:  0001174947-23-000257
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Middlesex Water reports 2022 revenue $162.4M, net income $42.4M, EPS $2.39, dividend up 7.76%
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- Revenue $162.4M, up $19.3M YoY; net income $42.4M ($2.39 diluted EPS) vs $36.5M ($2.07) in 2021.
- Dividend increased 7.76% in Q3 2022, marking 50th consecutive year of increases; quarterly dividend $0.3125/share payable March 1, 2023.
- Operating revenues increase driven by $21.6M base rate increase in NJ and $0.9M customer growth in DE, partially offset by 6% rate reduction in DE.
- Operation and maintenance expenses up $5.4M to $79.1M due to labor, production costs, and main break activity.
- Company begins offering shares at 3% discount under Investment Plan until 200,000 shares purchased or Dec 1, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/66004/000117494723000257/0001174947-23-000257-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/66004/000117494723000257/form8k-29494_msx.htm
  HTML page:      https://secwatch.observer/filing/0001174947-23-000257

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