On November 29, 2022, RGC Resources (RGCO) announced that it will raise its quarterly dividend by 1.3 percent to $0.1975 per share. This marks 19 consecutive years of dividend increases by the utility company and follows a dividend hike of 5.4 percent in 2021.
The next RGCO dividend will be paid on February 1, 2023 to shareholders of record on January 18, 2023. This is the Company’s 315th consecutive quarterly cash dividend. The indicated annual dividend is $0.79 per share and will yield 3.3% at a stock price of $24.08.
Paul Nester, CEO of RGC Resources, Inc., stated, “We continue to be pleased with the solid operational and financial performance of the Roanoke Gas utility and this dividend increase reflects our commitment to deliver long-term shareholder value.”
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.