The board of directors (the “Board”) of New Jersey Resources Corporation (NYSE: NJR) unanimously approved a 7.1 percent increase in the quarterly dividend rate to $0.45 per share from $0.42 per share. The new quarterly rate will be effective with the dividend payable October 1, 2024 to shareowners of record on September 23, 2024.
The new annual dividend rate will be $1.80 per share. NJR has paid quarterly dividends continuously since its inception in 1952, and has raised the dividend every year for the last 29 years.
Steve Westhoven, President and CEO of NJR, stated, “This dividend increase underscores the Board’s belief in our strong financial health and confidence in our long-term growth strategy. We remain dedicated to driving sustainable returns and supporting stakeholders as we continue to advance our business objectives.”
