New Jersey Resources Board of Directors Raises Quarterly Dividend by 7.6 Percent to $0.39 Per Share
September 14 2022 - 1:00PM
Business Wire
The board of directors (the “Board”) of New Jersey Resources
Corporation (NYSE: NJR) unanimously approved a 7.6 percent increase
in the quarterly dividend rate to $0.39 per share from $0.3625 per
share. The new quarterly rate will be effective with the dividend
payable October 3, 2022 to shareowners of record on September 26,
2022. This dividend replaces the previously announced dividend of
$0.3625 per share approved on July 14, 2022 for shareowners of
record on September 26, 2022.
The new annual dividend rate will be $1.56 per share. NJR has
paid quarterly dividends continuously since its inception in 1952,
and this marks the 29th dividend increase over the last 27
years.
Steve Westhoven, President and CEO of NJR, stated, “This
quarterly dividend increase reflects the Board’s confidence in our
long-term business strategy and financial position. A growing
dividend is an important component of our commitment to provide
strong long-term returns to shareholders.”
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, Sussex and Burlington counties.
- Clean Energy Ventures invests in, owns and operates
solar projects with a total capacity of over 380 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: www.njresources.com.
Follow us on Twitter @NJNaturalGas. “Like” us on
facebook.com/NewJerseyNaturalGas.
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version on businesswire.com: https://www.businesswire.com/news/home/20220913006311/en/
Media: Mike Kinney 732-938-1031
mkinney@njresources.com
Investors: Adam Prior 732-938-1145
aprior@njresources.com
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