RGC Resources, Inc. Announces Quarterly Dividend Increase

The Board of Directors of RGC Resources, Inc. has declared a quarterly dividend of $0.2075 per share

ROANOKE, Va., Nov. 22, 2024 (GLOBE NEWSWIRE) —

The Board of Directors of RGC Resources, Inc. (Nasdaq: RGCO), at its meeting on November 22, 2024, declared a quarterly dividend of $0.2075 per share on the Company’s common stock. This marks a $0.03, or 3.8%, per share increase over the prior annual level, bringing the indicated annual dividend to $0.83 per share. RGC Resources, Inc. has now increased its annual dividend for 21 consecutive years, showcasing its commitment to delivering long-term shareholder value.

Paul Nester, CEO of RGC Resources, Inc., expressed his satisfaction with the company’s performance, stating, “The Roanoke Gas utility continues to deliver solid operational and financial performance. We are pleased that the MVP was completed in 2024, providing affordable and reliable natural gas to Southwest Virginia.”

The dividend is slated to be paid on February 1, 2025, to shareholders of record on January 17, 2025, representing the Company’s 323rd consecutive quarterly cash dividend.

Impact on Individuals

As a shareholder of RGC Resources, Inc., the increase in quarterly dividend can be seen as a positive development. It reflects the company’s strong financial performance and commitment to rewarding shareholders. Investors who rely on dividends for income may benefit from this higher payout, potentially increasing their overall return on investment.

Global Implications

The announcement of RGC Resources, Inc.’s dividend increase also has broader implications for the financial market. A company’s ability to consistently raise dividends over time signals stability and growth potential, attracting investors and contributing to overall market confidence. This positive news from RGC Resources, Inc. may influence investor sentiment and potentially impact the energy sector as a whole.

Conclusion

RGC Resources, Inc.’s decision to raise its quarterly dividend reflects a strong performance and commitment to shareholder value. The increase in dividend payout not only benefits individual shareholders but also sends a positive signal to the broader financial market. As the company continues its 21-year streak of annual dividend increases, investors can look forward to potential long-term growth and stability in their investment portfolios.