RGC Resources, Inc. (NASDAQ:RGCO) to Issue $0.20 Quarterly Dividend

RGC Resources, Inc. (NASDAQ:RGCO) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Wednesday, July 17th will be paid a dividend of 0.20 per share by the energy company on Thursday, August 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Wednesday, July 17th.

RGC Resources has increased its dividend payment by an average of 4.1% per year over the last three years. RGC Resources has a payout ratio of 63.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RGC Resources to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 63.0%.

RGC Resources Price Performance

Shares of NASDAQ:RGCO opened at $21.38 on Monday. RGC Resources has a 12 month low of $15.36 and a 12 month high of $21.89. The company has a current ratio of 1.31, a quick ratio of 1.00 and a debt-to-equity ratio of 1.23. The stock has a market cap of $217.65 million, a P/E ratio of 16.45 and a beta of 0.16. The company has a 50 day moving average of $20.35 and a 200 day moving average of $19.88.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results on Wednesday, May 1st. The energy company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). RGC Resources had a return on equity of 12.66% and a net margin of 15.82%. The firm had revenue of $32.66 million during the quarter, compared to the consensus estimate of $34.00 million. During the same period in the previous year, the company posted $0.64 EPS. As a group, sell-side analysts forecast that RGC Resources will post 1.14 EPS for the current fiscal year.

RGC Resources Company Profile

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.