Company: MSEX
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001174947-25-001119
Chunk: 8

Company: MIDDLESEX WATER CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 8
---
0.3400 per share) 
     —  
     —  
     (6,081) 
     (6,081)
  
    Cash Dividends on Preferred Stock 
     —  
     —  
     (22) 
     (22)
  
    Balance at March 31, 2025 
     17,894  
    $248,611  
    $200,437  
    $449,048 

    Net Income 
     —  
     —  
     10,778  
     10,778 
  
    Dividend Reinvestment & Common Stock Purchase Plan 
     4  
     229  
     —  
     229 
  
    Restricted Stock Award - Net - Employees 
     18  
     47  
     —  
     47 
  
    Restricted Stock Award - Board of Directors 
     6  
     366  
     —  
     366 
  
    Conversion of $7 Preferred Stock to Common Stock 
     30  
     262  
     —  
     262 
  
    At-The-Market Program Common Stock Issuance 
     64  
     3,604  
     —  
     3,604 
  
    Common Stock Issuance Expense 
     —  
     (431) 
     —  
     (431)
  
    Cash Dividends on Common Stock ($0.3400 per share) 
     —  
     —  
     (6,101) 
     (6,101)
  
    Cash Dividends on Preferred Stock 
     —  
     —  
     (19) 
     (19)
  
    Balance at June 30, 2025 
     18,016  
    $252,688  
    $205,095  
    $457,783 

See Notes to Condensed Consolidated Financial Statements.

5 

MIDDLESEX WATER COMPANY

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS

Note 1 – Basis of Presentation and Recent Developments

Middlesex Water Company (Middlesex or the Company)
is the parent company and sole shareholder of Tidewater Utilities, Inc. (Tidewater