RGC Resources, Inc. Raises Annual Dividend to $0.74 Per Share

Rhea-AI Summary

RGC Resources, Inc. (NASDAQ: RGCO) declared a quarterly dividend of $0.185 per share, marking a 5.7% increase over the previous annual dividend of $0.74. This increase reflects the company's strong financial performance and commitment to shareholder returns. The dividend is payable on February 1, 2021, to shareholders of record as of January 15, 2021. This milestone represents the company’s 307th consecutive quarterly cash dividend, showcasing its ongoing dedication to delivering value to shareholders.

Positive

• 5.7% increase in quarterly dividend, demonstrating strong financial performance.
• Commitment to shareholder returns with the 307th consecutive quarterly dividend.
• Annual dividend increased for the 17th consecutive year, indicating confidence in business strategy.

Negative

• None.

ROANOKE, Va., Nov. 30, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of RGC Resources, Inc. (NASDAQ: RGCO), at its meeting on November 30, 2020, declared a quarterly dividend of $0.185 per share on the Company’s common stock. The indicated annual dividend is $0.74 per share, a $0.04 or 5.7% per share increase over the prior annual level. The Company has now increased the annual dividend 17 consecutive years. Paul Nester, President and CEO of RGC Resources, Inc., stated, “The 5.7% increase reflects our solid financial performance, confidence in our business strategy and our continued commitment to deliver shareholder return.” The dividend will be paid on February 1, 2021 to shareholders of record on January 15, 2021. This is the Company’s 307th consecutive quarterly cash dividend.

RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream, LLC.

From time to time, the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research and development activities and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. 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 the anticipated results or other expectations expressed in the Company’s forward-looking statements. Past performance is not necessarily a predictor of future results.

Contact:	Randall P. Burton, II
	Vice President and CFO
Telephone:	540-777-3997

FAQ

What is the dividend amount declared by RGC Resources, Inc.?

The dividend amount declared is $0.185 per share.

When will the dividend be paid to RGCO shareholders?

The dividend will be paid on February 1, 2021.

What is the record date for receiving the dividend from RGCO?

The record date is January 15, 2021.

How much has RGC Resources increased its dividend this year?

RGC Resources has increased its annual dividend by $0.04, or 5.7%.

How long has RGC Resources been paying dividends?

RGC Resources has paid dividends for 307 consecutive quarters.