RGC Resources, Inc. (RGCO) to Distribute Quarterly Dividend of $0.21 on May 1st

RGC Resources, Inc. (NASDAQ:RGCO) announced a quarterly dividend on Friday, March 28th, RTT News reports. Investors of record on Thursday, April 17th will be paid a dividend of 0.2075 per share by the energy company on Thursday, May 1st. This represents a $0.83 dividend on an annualized basis and a 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 increased its dividend annually for the last 21 consecutive years. RGC Resources has a dividend payout ratio of 64.3% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of RGCO stock opened at $20.63 on Friday. The firm has a market capitalization of $212.43 million, a price-to-earnings ratio of 17.63 and a beta of 0.25. The company has a current ratio of 0.56, a quick ratio of 0.41 and a debt-to-equity ratio of 1.00. The business’s 50-day moving average price is $20.72 and its 200-day moving average price is $20.75. RGC Resources has a 12 month low of $18.62 and a 12 month high of $24.20.

RGC Resources (NASDAQ:RGCO) last posted its earnings results on Monday, February 10th. The energy company reported $0.51 EPS for the quarter, topping 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%. Equities research analysts forecast that RGC Resources will post 1.23 EPS for the current year.

Wall Street Analysts Forecast Growth

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.