Middlesex Water (MSEX) Dividend History & Yield
Dividend ContenderMiddlesex Water (MSEX) has increased its dividend for 23 consecutive years and currently yields 2.73%. The most recent dividend was $0.3600/share on Mar 2, 2026, paid Quarterly.
MSEX
Current Yield
2.73%
TTM Dividend/Share
$1.42
Payment Frequency
Quarterly
Payout Ratio
58.9%
Consecutive Growth Years
23 (Dividend Contender)
Div Growth (1Y CAGR)
4.94%
Div Growth (5Y CAGR)
5.79%
Div Growth (10Y CAGR)
5.92%
MSEX: compare the "Now" marker to the 1Y / 3Y / 5Y averages on the scale. One valuation signal among many — review fundamentals before investing.
Dividend health
Chowder score
8.5%
FCF payout ratio
44.0%
Net debt / EBITDA
4.4x
Interest coverage
3.78x
ROIC (TTM)
6.3%
Dividend Safety Score
4 out of 8 checks passed
Payout ratio below 75%
Payout ratio is 58.9%, well below the 75% threshold.
Free cash flow covers dividend
FCF/share ($-1.86) does not fully cover dividend/share ($1.42).
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 (-1.7%) — payout ratio expanding.
Per-payment dividend history
Ex-date May 15, 2026
- Payment date
- Jun 1, 2026
- Dividend
- $0.3600
- Adj. dividend
- $0.3600
Ex-date Feb 17, 2026
- Payment date
- Mar 2, 2026
- Dividend
- $0.3600
- Adj. dividend
- $0.3600
Ex-date Nov 17, 2025
- Payment date
- Dec 1, 2025
- Dividend
- $0.3600
- Adj. dividend
- $0.3600
Ex-date Aug 15, 2025
- Payment date
- Sep 2, 2025
- Dividend
- $0.3400
- Adj. dividend
- $0.3400
Ex-date May 15, 2025
- Payment date
- Jun 2, 2025
- Dividend
- $0.3400
- Adj. dividend
- $0.3400
Ex-date Feb 18, 2025
- Payment date
- Mar 3, 2025
- Dividend
- $0.3400
- Adj. dividend
- $0.3400
Ex-date Nov 15, 2024
- Payment date
- Dec 2, 2024
- Dividend
- $0.3400
- Adj. dividend
- $0.3400
Ex-date Aug 15, 2024
- Payment date
- Sep 3, 2024
- Dividend
- $0.3250
- Adj. dividend
- $0.3250
Ex-date May 14, 2024
- Payment date
- Jun 3, 2024
- Dividend
- $0.3250
- Adj. dividend
- $0.3250
Ex-date Feb 14, 2024
- Payment date
- Mar 1, 2024
- Dividend
- $0.3250
- Adj. dividend
- $0.3250
Ex-date Nov 15, 2023
- Payment date
- Dec 1, 2023
- Dividend
- $0.3250
- Adj. dividend
- $0.3250
Ex-date Aug 10, 2023
- Payment date
- Sep 1, 2023
- Dividend
- $0.3125
- Adj. dividend
- $0.3125
| Ex-Date | Payment Date | Dividend | Adj. Dividend |
|---|---|---|---|
| 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 |
Historical Dividend Yield
Dividend Growth
Dividend Increase Track Record
Middlesex Water has raised its total annual dividend (split-adjusted, by ex-dividend calendar year) versus the prior year for 23 consecutive years — the same figure as the "Consecutive Growth Years" card above.
| Year | Previous DPS | New DPS | Change |
|---|---|---|---|
| 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 | — |
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.
Cash dividends paid (USD) — TTM and history
Trailing-twelve-month and annual common dividends paid for Middlesex Water (MSEX) from the consolidated cash flow statement, in USD as filed.
Latest period
$25.51M
YoY change
+6.5%
5Y CAGR
+6.5%
Peak year (2025)
$24.92M
Latest annual
$24.92M
Cash dividends paid over time for Middlesex Water (MSEX)
Per-period cash dividends paid
Cash dividends paid annual + quarterly history for Middlesex Water (MSEX)
| Fiscal year | Period ended | Reported | Dividends Paid | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $24.92M | +6.5% | +$1.52M | ||
| 2024 | $23.41M | +4.3% | +$967,000 | ||
| 2023 | $22.44M | +7.8% | +$1.63M | ||
| 2022 | $20.81M | +7.4% | +$1.44M | ||
| 2021 | $19.37M | +6.6% | +$1.20M | ||
| 2020 | $18.18M | +12.5% | +$2.01M | ||
| 2019 | $16.16M | +8.3% | +$1.24M | ||
| 2018 | $14.93M | +6.6% | +$928,000 | ||
| 2017 | $14.00M | +6.6% | +$865,000 | ||
| 2016 | $13.14M | +4.7% | +$584,000 | ||
| 2015 | $12.55M | +2.6% | +$322,000 | ||
| 2014 | $12.23M | +2.4% | +$288,000 | ||
| 2013 | $11.94M | +2.3% | +$264,000 | ||
| 2012 | $11.68M | +2.1% | +$242,000 | ||
| 2011 | $11.44M | +8.8% | +$927,000 | ||
| 2010 | $10.51M | +9.7% | +$928,000 | ||
| 2009 | $9.58M | +2.4% | +$229,000 | ||
| 2008 | $9.35M | +2.3% | +$212,000 | ||
| 2007 | $9.14M | +11.6% | +$951,290 | ||
| 2006 | $8.19M | +6.5% | +$499,248 | ||
| 2005 | $7.69M | +4.3% | +$314,833 | ||
| 2004 | $7.38M | +4.7% | +$329,589 | ||
| 2003 | $7.05M | +4.2% | +$280,760 | ||
| 2002 | $6.77M | +3.1% | +$206,280 | ||
| 2001 | $6.56M | +2.4% | +$154,803 | ||
| 2000 | $6.40M | +3.3% | +$204,197 | ||
| 1999 | $6.20M | +17.0% | +$900,000 | ||
| 1998 | $5.30M | +6.0% | +$300,000 | ||
| 1997 | $5.00M | +4.2% | +$200,000 | ||
| 1996 | $4.80M | +4.3% | +$200,000 | ||
| 1995 | $4.60M | +4.5% | +$200,000 | ||
| 1994 | $4.40M | — | — |
2025's annual dividends paid for Middlesex Water (MSEX) came in at $24.92M – grew 6.5% year-over-year.
Through 2020–2025 (5 years), Middlesex Water dividends paid delivered a +6.5% annualised rate; sustaining 31 straight years of year-over-year growth.
The dataset's maximum dividends paid sits at $24.92M (2025); the minimum reading of $4.40M dates to 1994.
Middlesex Water (MSEX) sits 9th of 8 Utilities peers we track on this metric, against a peer median of $2.14B.
Middlesex Water Dividends Paid 2025: $24.92M
Middlesex Water dividends paid in 2025 was $24.92M, grew 6.5% from 2024. This figure represents the highest annual value in the available history.
Middlesex Water Dividends Paid 2024: $23.41M
Middlesex Water dividends paid in 2024 was $23.41M, edged up 4.3% from 2023.
Middlesex Water Dividends Paid 2023: $22.44M
Middlesex Water dividends paid in 2023 was $22.44M, grew 7.8% from 2022.
Middlesex Water Dividends Paid 2022: $20.81M
Middlesex Water dividends paid in 2022 was $20.81M, grew 7.4% from 2021.
Middlesex Water Dividends Paid 2021: $19.37M
Middlesex Water dividends paid in 2021 was $19.37M.
See more financial history for Middlesex Water (MSEX).
Sector peers by dividends paid
Companies in the same sector as Middlesex Water, ranked by their latest dividends paid.
| Company | Dividends Paid | Sector |
|---|---|---|
| NextEra Energy (NEE) | $4.68B | Utilities |
| Duke Energy (DUK) | $3.30B | Utilities |
| Southern Company (SO) | $3.02B | Utilities |
| Dominion Energy (D) | $2.28B | Utilities |
| American Electric Power Company (AEP) | $2.01B | Utilities |
| Sempra (SRE) | $1.60B | Utilities |
| Constellation Energy (CEG) | $486.00M | Utilities |
| GE Vernova (GEV) | $275.00M | Utilities |
Frequently asked questions
Does Middlesex Water pay dividends?
Yes, Middlesex Water (MSEX) pays quarterly dividends of approximately $1.42 per share annually, yielding 2.73%.
What is Middlesex Water's dividend yield?
Middlesex Water (MSEX) has a current dividend yield of 2.73%.
Is Middlesex Water's dividend safe?
Middlesex Water (MSEX) passes 4 out of 8 dividend safety checks. See the detailed breakdown above for each criterion.
How many consecutive years has Middlesex Water increased its dividend?
Middlesex Water (MSEX) has 23 consecutive years of dividend increases.
What is Middlesex Water's dividend payout ratio?
Middlesex Water (MSEX) has a dividend payout ratio of 58.9%. Trailing twelve months (GAAP): adjusted dividends over roughly 12 months aligned with the latest reported quarter, divided by the sum of diluted EPS from the last four fiscal quarters (not NII or taxable income for BDCs/REITs).
What is Middlesex Water's dividends paid?
Latest reported dividends paid for Middlesex Water (MSEX) is $25.51M (period ending March 31, 2026).
How has Middlesex Water dividends paid changed year-over-year?
Middlesex Water (MSEX) dividends paid changed +6.5% year-over-year on the latest annual filing.
What is the long-term growth rate of Middlesex Water dividends paid?
Middlesex Water (MSEX) dividends paid compound annual growth rate is +6.5% over the most recent 5 years available.
When did Middlesex Water dividends paid hit its highest annual value?
Middlesex Water dividends paid reached its highest annual value of $24.92M in 2025.
What was Middlesex Water dividends paid in 2024?
Middlesex Water (MSEX) dividends paid in 2024 was $23.41M.
What was Middlesex Water dividends paid in 2025?
Middlesex Water (MSEX) dividends paid in 2025 was $24.92M.
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