RGC Resources, Inc. Announces Quarterly Dividend of $0.21 (NASDAQ:RGCO)

RGC Resources, Inc. (NASDAQ:RGCO) declared a quarterly dividend on Friday, March 28th, RTT News reports. Investors of record on Thursday, April 17th will be given a dividend of 0.2075 per share by the energy company on Thursday, May 1st. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.02%.

RGC Resources has increased its dividend payment by an average of 2.5% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. RGC Resources has a payout ratio of 64.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RGC Resources to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.83 annual dividend with an expected future payout ratio of 64.3%.

RGC Resources Price Performance

RGCO stock traded down $0.37 during trading on Friday, reaching $20.63. The company’s stock had a trading volume of 7,575 shares, compared to its average volume of 12,139. The company has a quick ratio of 0.41, a current ratio of 0.56 and a debt-to-equity ratio of 1.00. The company’s fifty day moving average is $20.72 and its 200-day moving average is $20.74. The company has a market capitalization of $212.43 million, a P/E ratio of 17.63 and a beta of 0.25. RGC Resources has a 1 year low of $18.62 and a 1 year high of $24.20.

RGC Resources (NASDAQ:RGCO) last released its earnings results on Monday, February 10th. The energy company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. On average, research analysts expect that RGC Resources will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of RGC Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, February 18th.

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.