Current Yield
2.60%
TTM Dividend/Share
$1.42
Payment Frequency
Quarterly
Payout Ratio
58.9%
Consecutive Growth Years
23 (Dividend Contender)
Key takeaways
- Dividend Contender — Middlesex Water (MSEX) has raised its dividend for 23 consecutive years.
- Middlesex Water (MSEX) currently yields 2.60%, paying $1.42 per share over the trailing twelve months, distributed quarterly.
- Payout ratio is 58.9% — the share of earnings distributed as dividends.
- 4 of 8 dividend safety checks passed.
- 5-year dividend CAGR of 5.79% (growth is decelerating).
Dividend yield valuation for Middlesex Water (MSEX)
Current dividend yield vs its own 1Y / 3Y / 5Y historical averages — a rough valuation signal.
Valuation zone | Above average — potential buy zone |
Current yield (now) | 2.60% |
1-year average yield | 2.73%now 0.13 pp below |
3-year average yield | 2.39%now 0.21 pp above |
5-year average yield | 1.92%now 0.68 pp above |
MSEX: a yield above its history can signal value (or risk); below can signal a rich price. One valuation signal among many — review fundamentals before investing.
Dividend health for Middlesex Water (MSEX)
Cash-flow, leverage and returns metrics that signal whether the dividend is well-covered and sustainable.
Chowder score | 8.4% |
FCF payout ratio | 44.0% |
Net debt / EBITDA | 4.4x |
Interest coverage | 3.78x |
ROIC (TTM) | 6.3% |
Dividend safety score for Middlesex Water (MSEX)
Checks covering payout coverage, free-cash-flow support, leverage and dividend-growth durability.
4 of 8 checks passed
Payout ratio below 75%
Payout ratio is 58.9%, well below the 75% threshold.
Free cash flow covers dividend
TTM FCF after dividends is $-10M — FCF does not fully cover the payout.
No dividend cuts in 10+ years
No dividend cuts in the last 10 years.
Positive earnings growth trend
Earnings per share have declined over the past 5 years.
10+ years of consecutive growth
23 consecutive years of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 44.0%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 4.4x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (5.8%) exceeds EPS growth (-2.8%) — payout ratio expanding.
This analysis is for informational purposes only and is not financial advice. Safety scores and comparisons reflect historical data and do not predict future performance.
Per-payment dividend history
167 payments from 1985 to 2026 · Adj. Dividend is split-adjusted
| May 15, 2026 | Jun 1, 2026 | $0.3600 | $0.3600 |
| Feb 17, 2026 | Mar 2, 2026 | $0.3600 | $0.3600 |
| Nov 17, 2025 | Dec 1, 2025 | $0.3600 | $0.3600 |
| Aug 15, 2025 | Sep 2, 2025 | $0.3400 | $0.3400 |
| May 15, 2025 | Jun 2, 2025 | $0.3400 | $0.3400 |
| Feb 18, 2025 | Mar 3, 2025 | $0.3400 | $0.3400 |
| Nov 15, 2024 | Dec 2, 2024 | $0.3400 | $0.3400 |
| Aug 15, 2024 | Sep 3, 2024 | $0.3250 | $0.3250 |
| May 14, 2024 | Jun 3, 2024 | $0.3250 | $0.3250 |
| Feb 14, 2024 | Mar 1, 2024 | $0.3250 | $0.3250 |
| Nov 15, 2023 | Dec 1, 2023 | $0.3250 | $0.3250 |
| Aug 10, 2023 | Sep 1, 2023 | $0.3125 | $0.3125 |
- May 15, 2026$0.3600
- Feb 17, 2026$0.3600
- Nov 17, 2025$0.3600
- Aug 15, 2025$0.3400
- May 15, 2025$0.3400
- Feb 18, 2025$0.3400
- Nov 15, 2024$0.3400
- Aug 15, 2024$0.3250
- May 14, 2024$0.3250
- Feb 14, 2024$0.3250
- Nov 15, 2023$0.3250
- Aug 10, 2023$0.3125
Historical dividend yield for Middlesex Water (MSEX)
Mean trailing dividend yield using one ratio snapshot per calendar year.Mean yield1Y: 2.73%5Y: 1.92%10Y: 1.84%
Dividend per share for Middlesex Water (MSEX)
CAGR (per year)1Y: 4.94%5Y: 5.79%10Y: 5.92%↓ Decelerating
| Year | Total ($/share) | Payments |
|---|---|---|
| 1985 | $1.52 | 4 |
| 1986 | $1.60 | 4 |
| 1987 | $0.42 | 4 |
| 1988 | $0.43 | 4 |
| 1989 | $0.45 | 4 |
| 1990 | $0.46 | 4 |
| 1991 | $0.47 | 4 |
| 1992 | $0.48 | 4 |
| 1993 | $0.63 | 5 |
| 1994 | $0.53 | 4 |
| 1995 | $0.54 | 4 |
| 1996 | $0.55 | 4 |
| 1997 | $0.56 | 4 |
| 1998 | $0.57 | 4 |
| 1999 | $0.59 | 4 |
| 2000 | $0.61 | 4 |
| 2001 | $0.62 | 4 |
| 2002 | $0.63 | 4 |
| 2003 | $0.61 | 4 |
| 2004 | $0.66 | 4 |
| 2005 | $0.67 | 4 |
| 2006 | $0.68 | 4 |
| 2007 | $0.69 | 4 |
| 2008 | $0.70 | 4 |
| 2009 | $0.71 | 4 |
| 2010 | $0.72 | 4 |
| 2011 | $0.73 | 4 |
| 2012 | $0.74 | 4 |
| 2013 | $0.75 | 4 |
| 2014 | $0.76 | 4 |
| 2015 | $0.78 | 4 |
| 2016 | $0.81 | 4 |
| 2017 | $0.86 | 4 |
| 2018 | $0.91 | 4 |
| 2019 | $0.98 | 4 |
| 2020 | $1.04 | 4 |
| 2021 | $1.11 | 4 |
| 2022 | $1.18 | 4 |
| 2023 | $1.26 | 4 |
| 2024 | $1.31 | 4 |
| 2025 | $1.38 | 4 |
| 2026 | $0.72 | 2 |
Dividend growth for Middlesex Water (MSEX)
Year-over-year change in total annual dividend per share (split-adjusted, by ex-dividend year). Green is an increase, red a cut.
Dividend Increase Track Record
Year-over-year change in total annual DPS (dividends per share, split-adjusted), based on ex-dividend date.
| 2026 | $1.3800 | — | — |
| 2025 | $1.3150 | $1.3800 | +4.9% |
| 2024 | $1.2625 | $1.3150 | +4.2% |
| 2023 | $1.1825 | $1.2625 | +6.8% |
| 2022 | $1.1075 | $1.1825 | +6.8% |
| 2021 | $1.0413 | $1.1075 | +6.4% |
| 2020 | $0.9762 | $1.0413 | +6.7% |
| 2019 | $0.9113 | $0.9762 | +7.1% |
| 2018 | $0.8575 | $0.9113 | +6.3% |
| 2017 | $0.8075 | $0.8575 | +6.2% |
| 2016 | $0.7762 | $0.8075 | +4.0% |
| 2015 | $0.7625 | $0.7762 | +1.8% |
| 2014 | $0.7525 | $0.7625 | +1.3% |
| 2013 | $0.7425 | $0.7525 | +1.3% |
| 2012 | $0.7325 | $0.7425 | +1.4% |
| 2011 | $0.7225 | $0.7325 | +1.4% |
| 2010 | $0.7125 | $0.7225 | +1.4% |
| 2009 | $0.7025 | $0.7125 | +1.4% |
| 2008 | $0.6925 | $0.7025 | +1.4% |
| 2007 | $0.6825 | $0.6925 | +1.5% |
| 2006 | $0.6725 | $0.6825 | +1.5% |
| 2005 | $0.6625 | $0.6725 | +1.5% |
| 2004 | $0.6075 | $0.6625 | +9.1% |
| 2003 | $0.6338 | $0.6075 | -4.1% |
| 2002 | $0.6225 | $0.6338 | +1.8% |
| 2001 | $0.6125 | $0.6225 | +1.6% |
| 2000 | $0.5950 | $0.6125 | +2.9% |
| 1999 | $0.5750 | $0.5950 | +3.5% |
| 1998 | $0.5625 | $0.5750 | +2.2% |
| 1997 | $0.5525 | $0.5625 | +1.8% |
| 1996 | $0.5425 | $0.5525 | +1.8% |
| 1995 | $0.5288 | $0.5425 | +2.6% |
| 1994 | $0.6312 | $0.5288 | -16.2% |
| 1993 | $0.4850 | $0.6312 | +30.2% |
| 1992 | $0.4725 | $0.4850 | +2.6% |
| 1991 | $0.4625 | $0.4725 | +2.2% |
| 1990 | $0.4487 | $0.4625 | +3.1% |
| 1989 | $0.4338 | $0.4487 | +3.5% |
| 1988 | $0.4187 | $0.4338 | +3.6% |
| 1987 | $1.6008 | $0.4187 | -73.8% |
| 1986 | $1.5208 | $1.6008 | +5.3% |
| 1985 | — | $1.5208 | — |
- 2026—
- 2025$1.3800
- 2024$1.3150
- 2023$1.2625
- 2022$1.1825
- 2021$1.1075
- 2020$1.0413
- 2019$0.9762
- 2018$0.9113
- 2017$0.8575
- 2016$0.8075
- 2015$0.7762
- 2014$0.7625
- 2013$0.7525
- 2012$0.7425
- 2011$0.7325
- 2010$0.7225
- 2009$0.7125
- 2008$0.7025
- 2007$0.6925
- 2006$0.6825
- 2005$0.6725
- 2004$0.6625
- 2003$0.6075
- 2002$0.6338
- 2001$0.6225
- 2000$0.6125
- 1999$0.5950
- 1998$0.5750
- 1997$0.5625
- 1996$0.5525
- 1995$0.5425
- 1994$0.5288
- 1993$0.6312
- 1992$0.4850
- 1991$0.4725
- 1990$0.4625
- 1989$0.4487
- 1988$0.4338
- 1987$0.4187
- 1986$1.6008
- 1985$1.5208
DPS sums split-adjusted amounts (adj. dividend) by ex-dividend calendar year—the same basis as the Adj. Dividend column in Dividend Payment History. The Dividend column can differ after stock splits. This table uses four decimals per annual total so the Change column matches the shown amounts; each payment row in Dividend Payment History also uses four.
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