WALL, N.J.--(BUSINESS WIRE)--
The board of directors of New Jersey Resources (NYSE:NJR) has
unanimously approved a 6.3 percent increase in the quarterly dividend
rate to $.255 per share from $.24 per share. The new quarterly rate will
be effective with the dividend payable October 3, 2016, to shareowners
of record on September 23, 2016. The new annual dividend rate will be
$1.02 per share. This dividend replaces the previous dividend of $.24
per share approved on July 13, 2016, for shareowners of record on
September 23, 2016. NJR has paid quarterly dividends continuously since
its inception in 1952.
"As a result of our consistent financial performance and strong
financial profile, we have been able to increase our dividend for the 23rd
time in the last 21 years," said Laurence M. Downes, chairman and CEO of
New Jersey Resources. "The action taken today by our board of directors
reaffirms our commitment to providing our shareowners with a competitive
return on their investment, and is our way of recognizing them for the
confidence they place in us year after year."
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company, which
through its subsidiaries, provides safe and reliable natural gas and
clean energy services, including transportation, distribution, asset
management and home services. With annual revenues in excess of $2.7
billion, NJR comprises five primary businesses:
New Jersey Natural Gas, NJR's principal subsidiary, operates and
maintains over 7,000 miles of natural gas transportation and
distribution infrastructure to serve over half a million customers in
New Jersey's Monmouth, Ocean and parts of Morris, Middlesex, Sussex
and Burlington counties.
NJR Energy Services manages a diversified portfolio of natural gas
transportation and storage assets and provides physical natural gas
services to its customers across North America.
NJR Clean Energy Ventures invests in, owns and operates solar and
onshore wind projects with a total capacity of more than 200
megawatts, providing residential and commercial customers with
NJR Midstream serves customers from local distributors and producers
to electric generators and wholesale marketers through its 50 percent
equity ownership in the Steckman Ridge natural gas storage facility
and its stake in Dominion Midstream Partners, L.P., as well as its 20
percent equity interest in the PennEast Pipeline Project.
NJR Home Services provides heating, central air conditioning, standby
generators, solar and other indoor and outdoor comfort products to
residential homes and businesses throughout New Jersey.
NJR and its more than 1,000 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:
us on Twitter @NJNaturalGas.
"Like" us on facebook.com/NewJerseyNaturalGas.
our free NJR investor relations app for iPad, iPhone and Android.
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New Jersey Resources
Source: New Jersey Resources
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