Increase near top of stated annual growth range of 6 to 10 percent
WALL, N.J.--(BUSINESS WIRE)-- The board of directors of New Jersey Resources (NYSE: NJR) unanimously approved a 9 percent increase in the quarterly dividend rate to $.3625 per share from $.3325 per share. The new quarterly rate will be effective with the dividend payable October 1, 2021 to shareowners of record on September 20, 2021. This dividend replaces the previously announced dividend of $.3325 per share approved on July 14, 2021 for shareowners of record on September 20, 2021.
The new annual dividend rate will be $1.45 per share. NJR has paid quarterly dividends continuously since its inception in 1952, and this marks the 28th dividend increase over the last 26 years.
“Today’s action by our board of directors reflects our continued commitment to provide value for shareowners,” said Steve Westhoven, President and CEO of New Jersey Resources. “The larger increase in our dividend this year reflects NJR’s strong results and our confidence in our strategic outlook,” Westhoven said.
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 nearly 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 Contact: Michael Kinney 732-938-1031 mkinney@njresources.com
Investor Contact: Dennis Puma 732-938-1229 dpuma@njresources.com
Source: New Jersey Resources