RGC Resources, Inc. Declares Quarterly Dividend

Rhea-AI Summary

The Board of Directors of RGC Resources, Inc. (NASDAQ: RGCO) declared a quarterly dividend of $0.1975 per share on April 24, 2023, marking the company’s 317th consecutive cash dividend. This dividend will be paid on August 1, 2023 to shareholders of record on July 17, 2023. RGC Resources provides energy and related products to approximately 63,500 customers in Virginia through its subsidiaries, including Roanoke Gas Company and RGC Midstream. The company also issued a warning that forward-looking statements regarding growth and margins are subject to various risks such as gas prices, geopolitical factors, and regulatory challenges, which may impact future performance. Past results should not be considered indicators of future outcomes.

Positive

• Quarterly dividend of $0.1975 per share declared.
• 317th consecutive quarterly cash dividend reflects company stability.

Negative

• Risks include gas prices and supply fluctuations.
• Potential regulatory and geopolitical challenges could impact performance.

ROANOKE, Va., April 25, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of RGC Resources, Inc. (NASDAQ: RGCO), at its meeting on April 24, 2023, declared a quarterly dividend of $0.1975 per share on the Company’s common stock. The dividend will be paid on August 1, 2023 to shareholders of record on July 17, 2023. This is the Company’s 317th consecutive quarterly cash dividend.

RGC Resources, Inc. provides energy and related products and services to approximately 63,500 customers in Virginia through its operating subsidiaries including Roanoke Gas Company and RGC Midstream, L.L.C.

The statements in this release that are not historical facts constitute “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company’s actual results and experience to differ materially from any expectations expressed in the Company’s forward-looking statements, regarding customer growth, infrastructure investment and margins. These risks and uncertainties include gas prices and supply, geopolitical considerations and regulatory and legal challenges and those set forth in the Company’s Form 10-K for the year ended September 30, 2022. Forward-looking statements reflect the Company’s current expectations only as of the date they are made. The Company assumes no duty to update these statements should expectations change or actual results differ from current expectations except as required by applicable laws and regulations.

Past performance is not necessarily a predictor of future results.

Contact:        
Jason A. Field
Vice President and CFO
Telephone: 540-777-3997

FAQ

What is the dividend amount declared by RGCO?

RGC Resources declared a quarterly dividend of $0.1975 per share.

When will the RGCO dividend be paid?

The dividend will be paid on August 1, 2023.

What is the significance of the 317th dividend for RGCO?

It signifies RGC Resources' commitment to returning value to shareholders over the years.

What are the risks mentioned in the RGCO press release?

The risks include gas prices, supply issues, and regulatory challenges.

Who can receive the RGCO dividend?

Shareholders of record on July 17, 2023, will receive the dividend.