WALL, N.J.--(EON: Enhanced Online News)--The board of directors of New Jersey Resources (NJR) has unanimously approved a 5 percent increase in the quarterly dividend rate to $.42 per share from $.40 per share. The new quarterly rate will be effective with the dividend payable October 1, 2013 to shareowners of record on September 23, 2013. The new annual dividend rate will be $1.68 per share. This dividend replaces the previous dividend of $.40 per share approved on July 10, 2013 for shareowners of record on September 16, 2013. NJR has paid quarterly dividends continuously since its inception in 1952.
“The action taken today by our board of directors allows us to increase our dividend for the 20th time in the last 18 years. This is an acknowledgement of our team’s unwavering focus to provide exceptional value for our customers and shareowners.”
“Our shareowners look to us year after year for consistent financial performance and a competitive return on their investment,” said Laurence M. Downes, chairman and CEO of NJR. “The action taken today by our board of directors allows us to increase our dividend for the 20th time in the last 18 years. This is an acknowledgement of our team’s unwavering focus to provide exceptional value for our customers and shareowners.”
About New Jersey Resources
New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that provides safe and reliable natural gas and renewable energy services, including transportation, distribution and asset management. With annual revenues in excess of $2 billion, NJR is comprised of five key businesses:
- New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains 7,000 miles of natural gas transportation and distribution infrastructure to serve approximately half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris and Middlesex counties.
- NJR Clean Energy Ventures is a clean energy company that invests in, owns and operates solar and onshore wind projects with a total capacity in excess of 47 megawatts, providing residential and commercial customers with low carbon solutions.
- NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides customized energy solutions to its customers across North America.
- Midstream Assets invests and maintains an equity ownership in a natural gas storage facility and a transportation pipeline, and serves companies from local distributors and producers to electric generators and wholesale marketers.
- NJR Home Services is a provider of heating, central air conditioning, standby generators, solar and other indoor and outdoor comfort products to nearly 130,000 residential homes and businesses throughout New Jersey.
NJR and its more than 900 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®.
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