RGC Resources, Inc. Raises Annual Dividend to $0.78 Per Share

Rhea-AI Summary

The Board of Directors of RGC Resources, Inc. (NASDAQ: RGCO) declared a quarterly dividend of $0.195 per share on November 29, 2021, marking a 5.4% increase from the previous annual dividend of $0.74. This increase reflects the company's strong financial performance and commitment to shareholder returns, having raised dividends for 18 consecutive years. The total indicated annual dividend now stands at $0.78 per share, with payments scheduled for February 1, 2022, to shareholders of record by January 18, 2022.

Positive

• Dividend increased by 5.4%, showing financial stability.
• 18 consecutive years of annual dividend increases.
• Total annual dividend now at $0.78 per share.

Negative

• None.

ROANOKE, Va., Nov. 29, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of RGC Resources, Inc. (NASDAQ: RGCO), at its meeting on November 29, 2021, declared a quarterly dividend of $0.195 per share on the Company’s common stock. The indicated annual dividend is $0.78 per share, a $0.04 or 5.4% per share increase over the prior annual level. The Company has now increased the annual dividend 18 consecutive years. Paul Nester, President and CEO of RGC Resources, Inc., stated, “The 5.4% 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, 2022 to shareholders of record on January 18, 2022. This is the Company’s 311th 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:	Paul W. Nester
	President and CEO
Telephone:	540-777-3837

FAQ

What is the current dividend per share for RGCO?

The current dividend per share for RGCO is $0.195, with an annual total of $0.78.

When is the RGCO dividend payment date?

The dividend will be paid on February 1, 2022.

How long has RGCO been increasing its dividends?

RGC Resources, Inc. has increased its dividends for 18 consecutive years.

What is the percentage increase of the RGCO dividend?

The RGCO dividend increased by 5.4% from the previous annual level.

Who declared the RGCO dividend?

The dividend was declared by the Board of Directors of RGC Resources, Inc.