New Jersey Resources Board of Directors Increases Dividend by 7.7% to $0.42 Per Share
- 7.7% increase in quarterly dividend rate
- Annual dividend rate now $1.68 per share
- NJR has raised dividend for 28 years
- None.
The new annual dividend rate will be
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 ofMorris ,Middlesex ,Sussex andBurlington 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.
View source 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
Source: New Jersey Resources Corporation