New Jersey Resources Board of Directors Declares Quarterly Dividend
- NJR has a long history of paying quarterly dividends since its inception in 1952, demonstrating its commitment to providing value to its shareholders.
- None.
Insights
The declaration of a quarterly dividend of $0.42 per share by New Jersey Resources Corporation is a direct indicator of the company's commitment to providing shareholder value. Dividends are a portion of earnings that a company returns to its shareholders and they can be a sign of a company's financial health and stability. In this case, the consistency of dividend payments since 1952 suggests a stable financial position and a reliable income stream for investors.
From a financial analysis perspective, the dividend yield, which is the dividend per share divided by the stock price, is a crucial metric. If the stock price remains relatively stable, the yield provided by the dividend can be an attractive aspect for income-focused investors. Additionally, the dividend payout ratio, which is the percentage of net income paid to shareholders in dividends, should be assessed to ensure that the company is not over-distributing at the expense of future growth or debt repayment.
It is important to consider the broader energy sector and market conditions when evaluating the impact of the dividend announcement. The energy sector can be volatile, influenced by factors such as commodity prices, regulatory changes and economic cycles. A steady dividend amidst such volatility can position New Jersey Resources Corporation favorably among its peers, potentially attracting investors who prioritize lower-risk, income-generating stocks.
However, investors should also be mindful of the company's growth prospects. A balance must be struck between returning profits to shareholders and reinvesting in the business for sustainable growth. The market's reaction to the dividend announcement can reflect investor sentiment regarding this balance and the company's future outlook.
From an economic standpoint, dividend announcements can have implications for the overall economy. They often signal corporate confidence in economic conditions, as companies are more likely to distribute dividends when they anticipate stable or growing profits. For New Jersey Resources Corporation, the continuation of dividend payments could suggest confidence in the energy market and its business model.
Additionally, dividends contribute to the income component of GDP. When a company like New Jersey Resources Corporation distributes dividends, it effectively transfers wealth from the corporate sector to households, which can then be spent or invested, potentially stimulating economic activity.
The Company is committed to providing value to its shareowners with a competitive return and has paid quarterly dividends continuously since its inception in 1952.
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 approximately 576,000 customers in New Jersey’s
Monmouth ,Ocean ,Morris ,Middlesex ,Sussex andBurlington counties. - Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of approximately 469 megawatts, providing 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240123575348/en/
Media:
Mike Kinney
732-938-1031
mkinney@njresources.com
Investor:
Adam Prior
732-938-1145
aprior@njresources.com
Source: New Jersey Resources Corporation
FAQ
What is the quarterly dividend declared by New Jersey Resources Corporation (NJR)?
When will the dividend be payable to shareowners of record?
How long has NJR been paying quarterly dividends?
