WALL, N.J.--(BUSINESS WIRE)-- The board of directors (the “Board”) of New Jersey Resources Corporation (NYSE: NJR) unanimously approved a 7.6 percent increase in the quarterly dividend rate to $0.39 per share from $0.3625 per share. The new quarterly rate will be effective with the dividend payable October 3, 2022 to shareowners of record on September 26, 2022. This dividend replaces the previously announced dividend of $0.3625 per share approved on July 14, 2022 for shareowners of record on September 26, 2022.
The new annual dividend rate will be $1.56 per share. NJR has paid quarterly dividends continuously since its inception in 1952, and this marks the 29th dividend increase over the last 27 years.
Steve Westhoven, President and CEO of NJR, stated, “This quarterly dividend increase reflects the Board’s confidence in our long-term business strategy and financial position. A growing dividend is an important component of our commitment to provide strong long-term returns to shareholders.”
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:
NJR and its over 1,200 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.
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Media: Mike Kinney 732-938-1031 mkinney@njresources.com
Investors: Adam Prior 732-938-1145 aprior@njresources.com
Source: New Jersey Resources