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

RGC Resources, Inc. (NASDAQ:RGCO) announced a quarterly dividend on Tuesday, November 26th,Wall Street Journal reports. Stockholders 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 annualized dividend 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 by an average of 4.1% annually over the last three years. RGC Resources has a payout ratio of 65.6% indicating that its dividend is sufficiently covered by earnings.

RGC Resources Price Performance

NASDAQ:RGCO traded down $0.73 during mid-day trading on Tuesday, reaching $20.67. 8,544 shares of the stock were exchanged, compared to its average volume of 13,473. The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 1.25. The business has a fifty day moving average price of $21.13 and a 200 day moving average price of $20.76. RGC Resources has a 1-year low of $17.39 and a 1-year high of $24.20. The firm has a market capitalization of $211.23 million, a PE ratio of 18.45 and a beta of 0.17.

Analysts Set New Price Targets

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

RGC Resources Company Profile

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.