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

RGC Resources, Inc. (NASDAQ:RGCO) announced a quarterly dividend on Friday, March 28th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 4.02%.

RGC Resources has increased its dividend payment by an average of 2.5% annually over the last three years and has raised its dividend every year for the last 21 years. RGC Resources has a payout ratio of 64.3% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Down 1.8 %

NASDAQ RGCO traded down $0.37 on Friday, hitting $20.63. 7,575 shares of the stock were exchanged, compared to its average volume of 12,139. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.41 and a current ratio of 0.56. RGC Resources has a 52-week low of $18.62 and a 52-week high of $24.20. The firm has a market capitalization of $212.43 million, a P/E ratio of 17.63 and a beta of 0.25. The stock has a fifty day moving average price of $20.72 and a two-hundred day moving average price of $20.74.

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded RGC Resources from a “sell” rating to a “hold” rating in a report 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.