UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report: September 12, 2005
MIDDLESEX WATER COMPANY
(Exact name of registrant as specified in its charter)
NEW JERSEY 0-422 22-1114430
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
1500 RONSON ROAD, P.O. BOX 1500, ISELIN, NEW JERSEY 08830
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(Address of principal executive offices, including zip code)
(732)-634-1500
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item. 8.01. Other Events
Announcement regarding Middlesex Water presenting its Company Overview at a
meeting of the Philadelphia Securities Association.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf of the
undersigned hereunto duly authorized.
MIDDLESEX WATER COMPANY
(Registrant)
s/Kenneth J. Quinn
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Kenneth J. Quinn
Vice President, General Counsel,
Secretary and Treasurer
Dated: September 12, 2005
2
Contact:
Bernadette Sohler, Director of Communications (732) 634-1500
Middlesex Water Company Presents Overview
at Meeting of the Philadelphia Securities Association
ISELIN, NEW JERSEY, (September 12, 2005) Officers of Middlesex Water
Company, (NASDAQ: MSEX), a leader in water and wastewater services in New Jersey
and Delaware, presented an overview of the Company's vision and strategy at a
luncheon meeting of the Philadelphia Securities Association on Thursday,
September 8, 2005.
"Middlesex Water's stable utility customer base in New Jersey and its
strong record of double digit customer growth in Delaware position Middlesex
Water as a quality choice for retail investors," said President and Chief
Executive Officer, Dennis G. Sullivan. "In addition, we are applying our
experience as a 108-year old traditional water provider in managing and pursuing
new water, wastewater and related service opportunities such as contract
operations, irrigation and water service line maintenance," added Sullivan. "Our
commitment to infrastructure investment, our diligence in water quality matters
and the dedication of our employees enable us to provide the highest level of
service to our customers," added Sullivan.
Middlesex Water serves approximately 115,000 customers in New Jersey and
Delaware and has invested more than $90 million in capital improvement projects
over the past five years, to support its water infrastructure in those states.
Dennis W. Doll, Executive Vice President, described the Company's vision
as the following:
o To be a trusted and continually improving provider of safe, reliable
and cost-effective water, wastewater and related services
o Provide a comprehensive suite of water and wastewater solutions in
the rapidly developing Delaware market that results in profitable
growth
o Actively pursue profitable, core growth in New Jersey
o Invest in products, services and other viable opportunities that
complement our core competencies.
Chief Financial Officer, A. Bruce O'Connor, described Middlesex Water's
financial performance for the twelve months ended June 30, 2005, citing its
operating revenues of $72.4 million and basic earnings per share of $0.76. Mr.
O'Connor explained impacts on earnings including corporate governance costs,
power/water increases, employee benefit costs and utility plant investment. He
described Middlesex Water's $23.2 million construction program in 2005, its
access to low cost financing through state revolving fund loans and the
Company's 5% Dividend Reinvestment Plan Discount, currently in place through
December 1, 2005. Middlesex Water has paid quarterly dividends since 1912 and
has increased its dividend rate each year for the past 33 years.
(More-More-More)
Middlesex Water Company Presents Overview at Meeting of the Philadelphia
Securities Association/Page 2
For more information, visit the Company's web site at
http://www.middlesexwater.com. Copies of the presentation made to the
Philadelphia Securities Association can be obtained by calling the Investor
Relations Department (732) 634-1500.
This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including, among others, the
Company's growth-through-acquisition strategy, expected capital investment
spending, the potential for additional customer growth from acquired operations,
increased opportunities for economies of scale through acquisitions, and
increased opportunities to invest and earn on infrastructure improvements. There
are important factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements, including:
general economic business conditions, unfavorable weather conditions, the
success of certain cost containment initiatives, changes in regulations or
regulatory treatment, availability and the cost of capital, the success of
growth initiatives, and other factors discussed in our filings with the
Securities and Exchange Commissions.
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