RGC Resources, Inc. Announces Three-for-Two Stock Split
January 17 2017 - 5:00PM
RGC Resources, Inc. (NASDAQ:RGCO) today announced that its Board of
Directors has approved a three-for-two stock split of the Company’s
outstanding common stock. The stock split will be effected in
the form of a stock dividend entitling each shareholder as of the
record date to receive one additional share of common stock for
every two shares of common stock owned. The stock dividend
will be issued on March 1, 2017 to all shareholders of record at
the close of business on February 15, 2017.
“The stock split highlights the exceptional
value RGC Resources has delivered to shareholders over the
long-term as well as the short-term. Our team continues to
execute our strategies of investing in our regulated utility and
other growth opportunities, which have led to profitable earnings
growth, superior dividend growth and increased shareholder
value. We are excited about our prospects for continued
growth,” said John S. D’Orazio, President and Chief Executive
Officer of RGC Resources, Inc. “The decision to split the
stock will also make the shares more affordable to current and
potential investors and should lead to an increase in the trading
volume of our stock.”
RGC Resources last stock split was in 2011 when
a two-for-one stock split occurred.
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: John S. D’Orazio
President and CEO
Telephone: 540-777-3815
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