MIDDLESEX WATER CO (MSEX) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Low Risk

Limited dilution potential

Last updated: April 30, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares

Recent Dilution: 4.13% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

19M

Potential Supply

Additional shares possible

Splits

None

Past 2 years

Summary

MSEX currently has 18.6M outstanding shares. with minimal authorized share overhang for future dilution. The company has minimally diluted shareholders by 4.13% over the past 2 years.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding
Apr 30, 2026	10-Q filing \| 18.6M shares outstanding	19M
Oct 31, 2025	10-Q filing \| 18.2M shares outstanding	18M
Jul 31, 2025	10-Q filing \| 18.0M shares outstanding	18M
May 01, 2025	10-Q filing \| 17.9M shares outstanding	18M
Feb 28, 2025	10-K filing \| 17.8M shares outstanding	18M
Oct 31, 2024	10-Q filing \| 17.8M shares outstanding	18M
Jul 31, 2024	10-Q filing \| 17.8M shares outstanding	18M
May 08, 2024	10-Q filing \| 17.8M shares outstanding	18M
Mar 01, 2024	10-K filing \| 17.8M shares outstanding	18M
Nov 09, 2023	10-Q filing \| 17.8M shares outstanding	18M
Jul 28, 2023	10-Q filing \| 17.7M shares outstanding	18M
May 01, 2023	10-Q filing \| 17.7M shares outstanding	18M
Feb 24, 2023	10-K filing \| 17.6M shares outstanding	18M
Oct 28, 2022	10-Q filing \| 17.6M shares outstanding	18M
Jul 29, 2022	10-Q filing \| 17.6M shares outstanding	18M
Apr 29, 2022	10-Q filing \| 17.5M shares outstanding	18M
Feb 25, 2022	10-K filing \| 17.5M shares outstanding	17M
Oct 29, 2021	10-Q filing \| 17.5M shares outstanding	17M
Jul 30, 2021	10-Q filing \| 17.5M shares outstanding	17M
May 05, 2021	10-Q filing \| 17.5M shares outstanding	17M
Feb 25, 2021	10-K filing \| 17.5M shares outstanding	17M
Oct 30, 2020	10-Q filing \| 17.5M shares outstanding	17M
Jul 31, 2020	10-Q filing \| 17.5M shares outstanding	17M
May 05, 2020	10-Q filing \| 17.4M shares outstanding	17M
Feb 27, 2020	10-K filing \| 16.8M shares outstanding	17M

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