RGC Resources Inc. (NASDAQ:RGCO) Announces Dividend Increase – $0.18 Per Share

RGC Resources Inc. (NASDAQ:RGCO) announced a dividend on Monday, November 25th, Fidelity reports. Investors of record on Wednesday, January 15th will be paid a dividend of 0.175 per share by the energy company on Saturday, February 1st. The ex-dividend date of this dividend is Tuesday, January 14th. This is an increase from RGC Resources’s previous dividend of $0.17.

RGC Resources has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 6 years. RGC Resources has a payout ratio of 64.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect RGC Resources to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 56.5%.

Shares of RGC Resources stock opened at $27.74 on Monday. The firm has a market cap of $224.17 million, a PE ratio of 25.69 and a beta of -0.22. The firm’s 50-day simple moving average is $28.70 and its 200-day simple moving average is $28.75. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.41 and a current ratio of 0.76. RGC Resources has a 1 year low of $25.63 and a 1 year high of $31.00.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings data on Friday, November 15th. The energy company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). The business had revenue of $9.85 million for the quarter, compared to analyst estimates of $10.60 million. RGC Resources had a return on equity of 10.43% and a net margin of 12.79%. On average, equities analysts predict that RGC Resources will post 1.13 earnings per share for the current year.

Separately, ValuEngine upgraded shares of RGC Resources from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd.

RGC Resources Company Profile

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.

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Dividend History for RGC Resources (NASDAQ:RGCO)

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