RGC Resources, Inc. Raises Annual Dividend to $0.83 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. The indicated annual dividend is $0.83 per share, a $0.03, or 3.8%, per share increase over the prior annual level. The Company has now increased the annual dividend 21 consecutive years. Paul Nester, CEO of RGC Resources, Inc., stated, “The Roanoke Gas utility continues to deliver solid operational and financial performance. Further, we are pleased that the MVP was completed in 2024 and now delivering affordable, reliable natural gas to Southwest Virginia. This dividend increase, our 21st annual increase, reflects our commitment to deliver long-term shareholder value.” The dividend will be paid on February 1, 2025 to shareholders of record on January 17, 2025. This is the Company’s 323rd consecutive quarterly cash dividend.
RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries including Roanoke Gas Company and RGC Midstream, L.L.C.
The statements in this release that are not historical facts constitute “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company’s actual results and experience to differ materially from any expectations expressed in the Company’s forward-looking statements, regarding customer growth, infrastructure investment and margins. These risks and uncertainties include gas prices and supply, geopolitical considerations and regulatory and legal challenges and those set forth in the Company’s Form 10-Q for the quarter ended June 30, 2024 and Item 1-A in the Company’s fiscal 2023 10-K. Forward-looking statements reflect the Company’s current expectations only as of the date they are made. The Company assumes no duty to update these statements should expectations change or actual results differ from current expectations except as required by applicable laws and regulations.
Past performance is not necessarily a predictor of future results.
| Contact: | Timothy J. Mulvaney VP, Treasurer and CFO |
| Telephone: | 540-777-3997 |
