RGC Resources Inc. (NASDAQ:RGCO) announced a dividend on Monday, September 30th, Fidelity reports. Shareholders of record on Tuesday, October 15th will be given a dividend of 0.165 per share by the energy company on Friday, November 1st. The ex-dividend date of this dividend is Friday, October 11th. This is an increase from RGC Resources’s previous dividend of $0.16.
RGC Resources has increased its dividend by an average of 6.5% per year over the last three years and has increased its dividend every year for the last 6 years. RGC Resources has a dividend payout ratio of 72.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RGC Resources to earn $1.11 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 59.5%.
Shares of NASDAQ RGCO traded up $0.09 during trading on Wednesday, hitting $29.00. The company had a trading volume of 482 shares, compared to its average volume of 7,253. The company has a market cap of $236.47 million, a P/E ratio of 30.53 and a beta of -0.18. RGC Resources has a 52 week low of $25.42 and a 52 week high of $31.00. The business’s 50-day moving average is $28.58 and its 200 day moving average is $27.83. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.34 and a current ratio of 0.56.
Separately, Zacks Investment Research lowered shares of RGC Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th.
RGC Resources Company Profile
RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.
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