New Jersey Resources Celebrates 40th Anniversary of Listing on the New York Stock Exchange
July 12 2022 - 7:00AM
Business Wire
Company to Ring Closing Bell on July 12,
2022
Celebrating the 40th anniversary of its listing on the New York
Stock Exchange (NYSE), New Jersey Resources (NYSE: NJR) President
and CEO Steve Westhoven, together with members of the company’s
board of directors, will mark the milestone by ringing The Closing
BellSM.
“New Jersey Resources is a premier energy infrastructure company
that is leading the way to a decarbonized energy future,” said
Steve Westhoven, president and CEO of New Jersey Resources. “To be
listed as a publicly traded company on the world’s largest stock
exchange for 40 years is an honor and an accomplishment that
reflects the talent of our team, the strength of our businesses and
the confidence of our shareowners.”
Since it was first listed on the NYSE, NJR has grown
considerably. The company’s market capitalization in 1982 was
approximately $43 million and the company stock’s closing price on
the first day of trading was $1.47, adjusted for splits. Today, it
is valued at a market capitalization of $4.2 billion with a closing
price of $43.70 as of July 8, 2022.
The value of $1,000 invested 40 years ago, assuming dividends
were reinvested, would be over $203,500 as of today, or an average
annual return of approximately 14.2%. NJR has paid quarterly
dividends since its inception in 1952 and has increased its
dividend in each of the last 26 years.
New Jersey Natural Gas (NJNG), NJR’s principal subsidiary, is
also celebrating its 70th anniversary this year. With the purchase
of Jersey Central Power and Light’s natural gas division by County
Gas Company in 1952, NJNG was born. At the time, the company served
approximately 90,000 customers. Today, it serves more than 568,000
customers.
A live webcast of The Closing Bell (at 4 p.m. EST) will be
available on the NYSE website at www.nyse.com/bell. Videos and
photos during and following the ceremony will be shared on NYSE's
Facebook pages, LinkedIn, and on Twitter @NYSE.
About New Jersey
Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000
company that, through its subsidiaries, provides safe and reliable
natural gas and clean energy services, including transportation,
distribution, asset management and home services. NJR is composed
of five primary businesses:
- New Jersey Natural Gas, NJR’s principal subsidiary,
operates and maintains over 7,600 miles of natural gas
transportation and distribution infrastructure to serve over
560,000 customers in New Jersey’s Monmouth, Ocean and parts of
Morris, Middlesex and Burlington counties.
- Clean Energy Ventures invests in, owns and operates
solar projects with a total capacity of more than 370 megawatts,
providing residential and commercial customers with low-carbon
solutions.
- Energy Services manages a diversified portfolio of
natural gas transportation and storage assets and provides physical
natural gas services and customized energy solutions to its
customers across North America.
- Storage and Transportation serves customers from local
distributors and producers to electric generators and wholesale
marketers through its ownership of Leaf River and the Adelphia
Gateway Pipeline Project, as well as our 50% equity ownership in
the Steckman Ridge natural gas storage facility.
- Home Services provides service contracts as well as
heating, central air conditioning, water heaters, standby
generators, solar and other indoor and outdoor comfort products to
residential homes throughout New Jersey.
NJR and its over 1,200 employees are committed to helping
customers save energy and money by promoting conservation and
encouraging efficiency through Conserve to Preserve® and
initiatives such as The SAVEGREEN Project® and The Sunlight
Advantage®.
For more information about NJR: Visit www.njresources.com.
Follow us on Twitter @NJNaturalGas. “Like” us on
facebook/NewJerseyNaturalGas.
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version on businesswire.com: https://www.businesswire.com/news/home/20220712005474/en/
Media: Michael Kinney 732-938-1031
mkinney@njresources.com
Investors: Adam Prior 732-938-1145
aprior@njresources.com
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