Welcome to our dedicated page for South Jersey Inds news (Ticker: SJI), a resource for investors and traders seeking the latest updates and insights on South Jersey Inds stock.
South Jersey Industries, Inc. (NYSE: SJI) provides essential energy services through regulated utilities and innovative clean technology solutions. This news hub offers investors and stakeholders timely updates on SJI's operational developments, strategic initiatives, and regulatory milestones.
Access official press releases and curated analysis covering SJI Utilities' natural gas distribution, South Jersey Energy Solutions' renewable projects, and midstream infrastructure developments. Track updates on earnings reports, sustainability efforts, and energy market positioning through verified sources.
Key content includes regulatory filings, infrastructure investments, clean energy partnerships, and operational performance updates. Bookmark this page for direct access to SJI's latest announcements, presented with clarity for both professional analysts and energy sector observers.
SJI has declared a quarterly dividend of $0.3100 per share for Q1 2022, marking its 71st consecutive year of dividend payments. This dividend is payable on April 5, 2022, to shareholders of record as of the close of business on March 16, 2022. SJI operates as an energy infrastructure holding company, primarily delivering natural gas to over 700,000 customers in New Jersey through its subsidiaries, while also focusing on clean energy development through non-utility operations.
SJI reported its 2021 financial results, revealing GAAP earnings of $0.80 per diluted share, down from $1.62 in 2020. Economic earnings stood at $178 million, a 9.2% increase from 2020. The company announced an agreement to be acquired by the Infrastructure Investments Fund for $36.00 per share, a 46.3% premium over the recent trading price. SJI has experienced strong customer growth and made significant investments in infrastructure and clean energy initiatives. Due to the acquisition, SJI's earnings call for Q4 2021 has been cancelled, and financial guidance for 2022 will not be provided.
South Jersey Industries (SJI) has entered into a definitive agreement for acquisition by the Infrastructure Investments Fund (IIF) at $36.00 per share, totaling an enterprise value of approximately $8.1 billion. This deal, approved by SJI's Board, aims to enhance SJI's clean energy initiatives and maintain local management in Folsom, New Jersey. IIF's long-term investment strategy aligns with SJI's goals of decarbonization by 2040. Shareholder and regulatory approvals are pending, with closure expected in Q4 2022.
SJI (NYSE: SJI) will hold its fourth quarter and full year 2021 earnings conference call on February 24, 2022, at 11:00 A.M. ET. The results will be released prior to market opening on the same day. Investors can join the call via toll-free or local numbers and also through an online webcast.
SJI operates through its subsidiaries, providing natural gas services to over 700,000 customers in New Jersey and focusing on clean energy initiatives.
SJI has partnered with REV LNG to launch four renewable natural gas (RNG) facilities across Michigan's dairy farms. These projects will feature 2M gallon anaerobic digesters to capture methane from cow manure, aiming to produce nearly 3 million therms of RNG annually. This output can offset the impact of 1.8 million gallons of gasoline. The partnership aligns with SJI's goal of 100% carbon reduction by 2040, reinforcing their commitment to clean energy, with facilities expected to be operational by late 2022.
SJI (NYSE: SJI) has announced a dividend increase from $0.3025 to $0.3100 per share, marking a 2.48% increase. This is the 23rd consecutive year that SJI has raised its dividend, reinforcing its commitment to consistent dividends. The new annualized dividend totals $1.24 and will be payable on December 29, 2021 to shareholders on record as of December 10, 2021. SJI has maintained a dividend payout for 70 consecutive years, showcasing a strong focus on shareholder returns.
SJI announced its third quarter 2021 results, reporting a GAAP loss of $(25.8) million, or $(0.23) per share, compared to a loss of $(10.3) million in Q3 2020. Year-to-date GAAP earnings fell to $6.3 million from $88.2 million in 2020. Economic earnings for Q3 were $(18.8) million versus $(6.0) million in the previous year. Despite this, the company reaffirmed its 2021 economic earnings guidance of $1.55-$1.65 per diluted share, with ongoing clean energy projects and utility investments aimed at enhancing service reliability for over 700,000 customers.
SJI (NYSE: SJI) and REV LNG announced the construction of a $12 million Renewable Natural Gas (RNG) facility at Oakridge Dairy, Connecticut's largest dairy farm. The 2MM gallon anaerobic digester is expected to be operational by September 2022, capturing methane from manure. This initiative will enable over 300,000 customers of Elizabethtown Gas to access renewable energy, supporting SJI's clean energy goals. The project aims to produce nearly 60,000 dekatherms of RNG annually, offsetting emissions equivalent to 867 vehicles. This partnership marks the beginning of a series of RNG developments in collaboration with REV LNG.
SJI will host its third quarter 2021 earnings conference call on November 4, 2021, at 11:00 A.M. ET. Financial results will be released on November 3, 2021, after the market closes. Interested parties can listen to the call by dialing in or via the SJI website, where an archived broadcast will be available for thirty days. SJI, based in Folsom, NJ, provides energy services through its regulated utility and non-utility subsidiaries, serving about 700,000 customers.
