RGC Resources, Inc. (NASDAQ:RGCO) Increases Dividend to $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 given a dividend of 0.2075 per share by the energy company on Saturday, February 1st. This represents a $0.83 annualized dividend and a 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 increased 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 Stock Performance

Shares of NASDAQ RGCO traded down $0.73 during mid-day trading on Tuesday, hitting $20.67. The company had a trading volume of 8,544 shares, compared to its average volume of 13,473. RGC Resources has a 12 month low of $17.39 and a 12 month high of $24.20. The firm has a market cap of $211.23 million, a P/E ratio of 18.45 and a beta of 0.17. The business’s 50-day simple moving average is $21.13 and its 200-day simple moving average is $20.76. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.07 and a quick ratio of 0.69.

Wall Street Analyst Weigh In

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