Today, the board of directors of New Jersey Resources (NYSE: NJR)
unanimously approved a 7.3 percent increase in the quarterly dividend
rate to $.2925 per share from $.2725 per share. The new quarterly rate
will be effective with the dividend payable October 1, 2018 to
shareowners of record on September 21, 2018. As of June 30, 2018, NJR
had approximately 87.9 million shares of common stock outstanding. This
dividend replaces the previously announced dividend of $.2725 per share
approved on July 10, 2018 for shareowners of record on September 21,
2018.
The new annual dividend rate will be $1.17 per share. NJR has paid
quarterly dividends continuously since its inception in 1952, and this
marks the 25th dividend increase over the last 23 years.
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that,
through its subsidiaries, provides safe and reliable natural gas and
clean energy services, including transportation, distribution, asset
management and home services. NJR is composed of five primary businesses:
-
New Jersey Natural Gas, NJR’s principal subsidiary, operates
and maintains over 7,400 miles of natural gas transportation and
distribution infrastructure to serve over half a million customers in
New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex and
Burlington counties.
-
NJR Clean Energy Ventures invests in, owns and operates solar
and onshore wind projects with a total capacity of more than 335
megawatts, providing residential and commercial customers with
low-carbon solutions.
-
NJR Energy Services manages a diversified portfolio of natural
gas transportation and storage assets and provides physical natural
gas services and customized energy solutions to its customers across
North America.
-
NJR Midstream serves customers from local distributors and
producers to electric generators and wholesale marketers through its
50 percent equity ownership in the Steckman Ridge natural gas storage
facility, as well as its 20 percent equity interest in the PennEast
Pipeline Project.
-
NJR Home Services provides service contracts as well as
heating, central air conditioning, water heaters, standby generators,
solar and other indoor and outdoor comfort products to residential
homes throughout New Jersey.
NJR and its more than 1,000 employees are committed to helping customers
save energy and money by promoting conservation and encouraging
efficiency through Conserve to Preserve® and initiatives such
as The SAVEGREEN Project® and The Sunlight Advantage®.
For more information about NJR:
Visit www.njresources.com.
Follow
us on Twitter @NJNaturalGas.
“Like” us on
facebook.com/NewJerseyNaturalGas.
Download our free NJR investor
relations app for iPad, iPhone and Android.
NJR-D
View source version on businesswire.com: https://www.businesswire.com/news/home/20180910005895/en/
Copyright Business Wire 2018
Source: Business Wire
(September 10, 2018 - 4:34 PM EDT)
News by QuoteMedia
www.quotemedia.com