RGC Resources, Inc. Declares Quarterly Dividend

Rhea-AI Summary

The Board of Directors of RGC Resources has declared a quarterly dividend of $0.1975 per share on January 23, 2023. This dividend will be paid on May 1, 2023, to shareholders of record on April 17, 2023. This marks the company’s 316th consecutive quarterly cash dividend. RGC Resources serves approximately 63,000 customers in Virginia through subsidiaries like Roanoke Gas Company. The company noted that forward-looking statements in this release are subject to risks such as gas prices, regulatory challenges, and unexpected changes in customer growth.

Positive

• 316 consecutive quarterly cash dividend demonstrates consistent performance.
• Dividend payment reflects company confidence in ongoing profitability.

Negative

• Risks related to gas prices and supply could impact future results.
• Regulatory and legal challenges may pose uncertainties for business operations.

ROANOKE, Va., Jan. 25, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of RGC Resources, Inc. (NASDAQ: RGCO), at its meeting on January 23, 2023, declared a quarterly dividend of $0.1975 per share on the Company’s common stock. The dividend will be paid on May 1, 2023 to shareholders of record on April 17, 2023. This is the Company’s 316th consecutive quarterly cash dividend.

RGC Resources, Inc. provides energy and related products and services to approximately 63,000 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

When is RGC Resources' dividend payment date for 2023?

The dividend payment date for RGC Resources is May 1, 2023.

What is the amount of the dividend declared by RGC Resources?

RGC Resources declared a dividend of $0.1975 per share.

How often does RGC Resources pay dividends?

RGC Resources pays dividends quarterly, with the latest being its 316th consecutive payment.

Who is eligible for the dividend from RGC Resources?

Shareholders of record as of April 17, 2023, are eligible for the dividend.

What risks might impact RGC Resources' future dividend payments?

Future dividend payments could be impacted by risks such as gas prices, supply issues, and regulatory challenges.