secwatch.observer — SEC 8-K summary
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Issuer:     MIDDLESEX WATER CO (MSEX)
CIK:        0000066004
Form:       8-K
Filed at:   2024-02-29T23:59:59+00:00
Accession:  0001174947-24-000278
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Middlesex Water 2023 net income down 26% to $31.5M; diluted EPS $1.76
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- Operating revenues increased to $166.3M, up $3.8M (+2.3%) from 2022, driven by base rate case and PWCA clause revenues.
- Net income decreased $10.9M to $31.5M; diluted EPS fell to $1.76 from $2.39, partly due to absence of $5.2M gain on sale of wastewater subsidiary in 2022.
- Board increased quarterly dividend by 4.0% to $0.325/share, marking 51st consecutive annual increase; payable March 1, 2024.
- Nadine Leslie assumes role of President and CEO effective March 1, 2024, succeeding Dennis W. Doll who remains Chairman.
- Operations and maintenance expenses rose $4.0M to $83.1M on higher production costs; depreciation up $2.2M on increased utility plant.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/66004/000117494724000278/0001174947-24-000278-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/66004/000117494724000278/form8k-31662_msx.htm
  HTML page:      https://secwatch.observer/filing/0001174947-24-000278

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