RGC Resources, Inc. (NASDAQ:RGCO) Announces Dividend Increase – $0.21 Per Share

RGC Resources, Inc. (NASDAQ:RGCO) declared a quarterly dividend on Tuesday, November 26th,Wall Street Journal reports. Shareholders of record on Friday, January 17th will be paid a dividend of 0.2075 per share by the energy company on Saturday, February 1st. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from RGC Resources’s previous quarterly dividend of $0.20.

RGC Resources has raised its dividend payment by an average of 4.1% per year over the last three years. RGC Resources has a dividend payout ratio of 65.6% meaning its dividend is sufficiently covered by earnings.

RGC Resources Trading Down 3.4 %

RGCO stock traded down $0.73 during trading on Wednesday, reaching $20.67. 454 shares of the stock traded hands, compared to its average volume of 13,416. The business’s 50 day moving average price is $21.11 and its 200-day moving average price is $20.76. The firm has a market capitalization of $211.25 million, a PE ratio of 17.82 and a beta of 0.17. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.07 and a quick ratio of 0.69. RGC Resources has a 52-week low of $17.39 and a 52-week high of $24.20.

Analyst Ratings Changes

Separately, StockNews.com cut shares of RGC Resources from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th.

About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.