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

RGC Resources, Inc. (NASDAQ:RGCO) declared a quarterly dividend on Tuesday, November 26th,Wall Street Journal reports. Stockholders 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 dividend yield of 3.97%. The ex-dividend date is Friday, January 17th. This is a positive change 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% meaning its dividend is sufficiently covered by earnings.

RGC Resources Stock Up 1.1 %

RGC Resources stock opened at $20.90 on Thursday. The stock has a market capitalization of $213.60 million, a PE ratio of 18.02 and a beta of 0.17. RGC Resources has a twelve month low of $17.39 and a twelve month high of $24.20. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 1.25. The company has a 50 day moving average of $21.09 and a 200-day moving average of $20.76.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of RGC Resources from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th.

About RGC Resources

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.