Market Overview

New Jersey Resources Increases Dividend by 5.3% to $0.40 per Share

Related NJR
Top 4 NYSE Stocks In The Gas Utilities Industry With The Highest ROA
Benzinga's Top Initiations
Top 20 Utilities For Dividend Growth Investors (Seeking Alpha)

The board of directors of New Jersey Resources (NJR) has unanimously approved a 5.3 percent increase in the quarterly dividend rate to $.40 per share from $.38 per share. The new quarterly rate will be effective with the dividend payable October 1, 2012 to shareowners of record on September 24, 2012. The new annual dividend rate will be $1.60 per share. This dividend replaces the previous dividend of $.38 per share approved on July 11, 2012 for shareowners of record on September 14th. NJR has paid quarterly dividends continuously since its inception in 1952.

“The action taken today by our board of directors reaffirms our commitment to providing our shareowners with a competitive return on their investment,” said Laurence M. Downes, chairman and CEO of NJR. “As a result of our consistent financial performance, we have been able to increase our dividend for the 19^th time in the last 17 years. This is our way of recognizing our shareowners for the confidence they place in us year after year.”

Posted-In: News Dividends


Related Articles (NJR)

Get Benzinga's Newsletters