New Jersey Resources Board of Directors Increases Dividend by 7.7% to $0.42 Per Share
07 Septiembre 2023 - 11:30AM
Business Wire
The board of directors (the “Board”) of New Jersey Resources
Corporation (NYSE: NJR) unanimously approved a 7.7 percent increase
in the quarterly dividend rate to $0.42 per share from $0.39 per
share. The new quarterly rate will be effective with the dividend
payable October 2, 2023 to shareowners of record on September 20,
2023. This dividend replaces the previously announced dividend of
$0.39 per share approved on July 12, 2023 for shareowners of record
on September 20, 2023.
The new annual dividend rate will be $1.68 per share. NJR has
paid quarterly dividends continuously since its inception in 1952,
and has raised the dividend every year for the last 28 years.
Steve Westhoven, President and CEO of NJR, stated, “Our
long-term business strategy and financial position give the Board
confidence to increase the quarterly dividend. We are committed to
providing strong long-term returns to shareholders, and a growing
dividend is a key component of increasing shareholder value.”
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 7,700 miles of natural gas
transportation and distribution infrastructure to serve over
574,900 customers in New Jersey’s Monmouth, Ocean and parts of
Morris, Middlesex, Sussex and Burlington counties.
- Clean Energy Ventures invests in, owns and operates
solar projects with a total capacity of approximately 462
megawatts, providing residential and commercial customers with
low-carbon solutions.
- 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.
- Storage and Transportation serves customers from local
distributors and producers to electric generators and wholesale
marketers through its ownership of Leaf River and the Adelphia
Gateway Pipeline, as well as our 50% equity ownership in the
Steckman Ridge natural gas storage facility.
- 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 over 1,300 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: www.njresources.com.
Follow us on X.com (Twitter) @NJNaturalGas. “Like” us on
facebook.com/NewJerseyNaturalGas.
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version on businesswire.com: https://www.businesswire.com/news/home/20230907296344/en/
Media: Mike Kinney 732-938-1031 mkinney@njresources.com
Investor: Adam Prior 732-938-1145 aprior@njresources.com
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