The board of directors of New Jersey Resources (NYSE:NJR), has unanimously approved a 7.1 percent increase in the quarterly dividend rate to $.45 per share from $.42 per share. The new quarterly rate will be effective with the dividend payable October 1, 2014 to shareowners of record on September 22, 2014. The new annual dividend rate will be $1.80 per share. This dividend replaces the previous dividend of $.42 per share approved on July 15, 2014 for shareowners of record on September 15, 2014. NJR has paid quarterly dividends continuously since its inception in 1952. “The action taken today by our board of directors reaffirms our commitment to providing our shareowners with a competitive return on their investment,” said Laurence M. Downes, chairman and CEO of New Jersey Resources. “As a result of our consistent financial performance, we have been able to increase our dividend for the 21 st time in the last 19 years. This is our way of recognizing our shareowners for the confidence they place in us year after year.” About New Jersey Resources New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that provides safe and reliable natural gas and clean energy services, including transportation, distribution and asset management. With annual revenues in excess of $3 billion, NJR is comprised of five primary businesses:
- New Jersey Natural Gas is NJR’s principal subsidiary that operates and maintains 7,000 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris and Middlesex counties.
- NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
- NJR Clean Energy Ventures invests in, owns and operates solar and onshore wind projects with a total capacity in excess of 85 megawatts, providing residential and commercial customers with low-carbon solutions.
- NJR Midstream serves customers from local distributors and producers to electric generators and wholesale marketers through its equity ownership in a natural gas storage facility and a transportation pipeline, both of which are Federal Energy Regulatory Commission, or FERC-regulated investments.
- NJR Home Services provides heating, central air conditioning, standby generators, solar and other indoor and outdoor comfort products to residential homes and businesses throughout New Jersey and serves approximately 119,000 service contract customers.
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