RGC Resources (RGCO) will raise its quarterly dividend by 6.1 percent to $0.175 per share in Q1 of 2020. The company has now increased the annual dividend 16 consecutive years.

The next dividend will be paid on February 1, 2020 to shareholders of record on January 15, 2020. A new annual rate of 70 cents per share yields 2.4% at a stock price of $29.38.
 

John D’Orazio, President and CEO of RGC Resources, Inc., stated, “The 6.1% increase reflects our solid financial performance, confidence in our business strategy and our continued commitment to deliver dividend growth to our shareholders.”
 

RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream, LLC. The company sells and distributes natural gas to residential, commercial and industrial customers in Roanoke, Virginia, and the surrounding localities. RGC also owns a liquefied natural gas storage facility located in Botetourt County.