Middlesex Water (MSEX) will raise its quarterly dividend by 6.8 percent to $0.2563 per share in 2019. This follows a 7.3 percent dividend hike by the water utility last year. MSEX has now raised its annual dividend for 47 consecutive years.

The next dividend is payable on December 2, 2019 to shareholders of record as of November 15, 2019. A new annual rate of $1.025 per share yields 1.6% at a stock price of $64.78.

“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 Company is a water utility 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. Middlesex Water engages in collecting, treating, distributing and selling water for domestic, commercial, municipal, industrial and fire protection purposes.. The company has paid cash dividends in varying amounts continually since 1912.