RGC Resources Inc. (NASDAQ:RGCO) Plans Dividend of $0.18

RGC Resources Inc. (NASDAQ:RGCO) declared a dividend on Monday, November 25th, Fidelity reports. Investors of record on Wednesday, January 15th will be given a dividend of 0.175 per share by the energy company on Saturday, February 1st. The ex-dividend date is Tuesday, January 14th. This is an increase from RGC Resources’s previous dividend of $0.17.

RGC Resources has raised its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. RGC Resources has a dividend payout ratio of 64.8% meaning its dividend is sufficiently covered by earnings. Analysts expect RGC Resources to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 56.5%.

Shares of NASDAQ:RGCO traded down $0.01 during mid-day trading on Friday, reaching $27.74. 11,040 shares of the company were exchanged, compared to its average volume of 10,319. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.76 and a quick ratio of 0.41. The firm has a market cap of $224.25 million, a price-to-earnings ratio of 25.69 and a beta of -0.22. The firm’s 50-day simple moving average is $28.70 and its 200 day simple moving average is $28.75. RGC Resources has a 1 year low of $25.63 and a 1 year high of $31.00.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings data on Friday, November 15th. The energy company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.02). The company had revenue of $9.85 million for the quarter, compared to analysts’ expectations of $10.60 million. RGC Resources had a return on equity of 10.43% and a net margin of 12.79%. On average, research analysts forecast that RGC Resources will post 1.13 earnings per share for the current fiscal year.

Separately, ValuEngine raised shares of RGC Resources from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd.

About RGC Resources

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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Dividend History for RGC Resources (NASDAQ:RGCO)

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