New Jersey Resources Board of Directors Declares Quarterly Dividend

Rhea-AI Summary

New Jersey Resources (NYSE: NJR) announced that its board of directors has unanimously declared a quarterly dividend of $0.45 per share on its common stock. The dividend will be paid on April 1, 2025, to shareholders of record as of March 11, 2025. The company highlighted its consistent dividend payment history, noting that it has maintained quarterly dividend distributions since its founding in 1952 and has increased its dividend annually for 29 consecutive years.

Positive

• 29-year track record of consecutive annual dividend increases
• 73-year history of uninterrupted quarterly dividend payments since 1952
• Unanimous board approval demonstrates strong corporate governance

Negative

• None.

Insights

Financial Analyst

The declared quarterly dividend of $0.45 per share reflects New Jersey Resources' enduring financial stability in the traditionally defensive utility sector. With an uninterrupted dividend payment history spanning over seven decades and 29 consecutive years of dividend increases, NJR stands out as a reliable income-generating investment.

For income-focused investors, this consistency is particularly valuable in the current market environment. Utility companies like NJR typically offer stable dividend payments due to their regulated business model and essential services nature. Think of it as a steady stream of water flowing regardless of weather conditions - the company's dividend payments have remained dependable through various economic cycles, including recessions, inflation periods and market downturns.

The company's ability to maintain and grow its dividend for nearly three decades demonstrates:

• Strong operational cash flow generation
• Prudent financial management
• Long-term business sustainability
• Commitment to shareholder returns

For those new to investing, this dividend announcement signals business stability and management's confidence in future cash flows. While utility stocks may not offer explosive growth potential, they often serve as defensive holdings in investment portfolios, providing steady income streams during market volatility.

WALL, N.J.--(BUSINESS WIRE)-- The board of directors (the “Board”) of New Jersey Resources Corporation (NYSE: NJR) unanimously declared a quarterly dividend on its common stock of $0.45 per share. The dividend will be payable on April 1, 2025, to shareowners of record as of March 11, 2025.

NJR has paid quarterly dividends continuously since its inception in 1952, and has raised the dividend every year for the last 29 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 natural gas transportation and distribution infrastructure to serve customers in New Jersey’s Monmouth, Ocean, Morris, Middlesex, Sussex and Burlington counties.

• Clean Energy Ventures invests in, owns and operates solar projects, providing 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 SAVEGREEN^®.

For more information about NJR:
www.njresources.com.

Follow us on X.com (Twitter) @NJNaturalGas.
“Like” us on facebook.com/NewJerseyNaturalGas.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250121694902/en/

Media:

Mike Kinney

732-938-1031

mkinney@njresources.com

Investors:

Adam Prior

732-938-1145

aprior@njresources.com

Source: New Jersey Resources Corporation

FAQ

What is New Jersey Resources' (NJR) latest quarterly dividend amount for 2025?

New Jersey Resources declared a quarterly dividend of $0.45 per share.

When is the next NJR dividend payment date in 2025?

The next dividend payment date is April 1, 2025, for shareholders of record as of March 11, 2025.

How long has New Jersey Resources (NJR) been paying quarterly dividends?

NJR has been paying quarterly dividends continuously since its inception in 1952, spanning over 70 years.

How many consecutive years has NJR increased its dividend?

New Jersey Resources has increased its dividend every year for the last 29 years.

What is the record date for NJR's Q2 2025 dividend?

The record date for NJR's dividend is March 11, 2025.