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

RGC Resources, Inc. (NASDAQ:RGCO) announced a quarterly dividend on Tuesday, November 26th,Wall Street Journal reports. Shareholders 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 is Friday, January 17th. This is a positive change from RGC Resources’s previous quarterly dividend of $0.20.

RGC Resources has increased its dividend payment by an average of 4.1% annually over the last three years. RGC Resources has a dividend payout ratio of 65.6% indicating that its dividend is sufficiently covered by earnings.

RGC Resources Price Performance

RGCO stock traded down $0.73 during trading on Wednesday, hitting $20.67. The company had a trading volume of 454 shares, compared to its average volume of 13,416. The business has a 50 day moving average of $21.11 and a 200 day moving average of $20.76. The firm has a market capitalization of $211.25 million, a price-to-earnings ratio of 17.82 and a beta of 0.17. The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 1.25. RGC Resources has a fifty-two week low of $17.39 and a fifty-two week high of $24.20.

Analyst Upgrades and Downgrades

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

About RGC Resources

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.