RGC Resources, Inc. (NASDAQ:RGCO) Declares $0.21 Quarterly Dividend

RGC Resources, Inc. (NASDAQ:RGCO) declared 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 annualized dividend and a yield of 4.02%.

RGC Resources has raised its dividend by an average of 2.5% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. RGC Resources has a payout ratio of 64.3% meaning its dividend is sufficiently covered by earnings. Research 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

NASDAQ RGCO traded down $0.37 on Friday, hitting $20.63. 7,575 shares of the company’s stock traded hands, compared to its average volume of 12,144. The firm has a market capitalization of $212.43 million, a PE ratio of 17.63 and a beta of 0.25. RGC Resources has a 1-year low of $18.62 and a 1-year high of $24.20. The firm’s 50-day moving average price is $20.72 and its two-hundred day moving average price is $20.75. The company has a current ratio of 0.56, a quick ratio of 0.41 and a debt-to-equity ratio of 1.00.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings results on Monday, February 10th. The energy company reported $0.51 EPS for the quarter, beating 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%. As a group, analysts expect that RGC Resources will post 1.23 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded RGC Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th.

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.