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

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 raised its dividend payment by an average of 2.5% per year over the last three years and has increased 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. 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 Down 1.8 %

Shares of NASDAQ:RGCO opened at $20.63 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.41 and a current ratio of 0.56. RGC Resources has a 52-week low of $18.62 and a 52-week high of $24.20. The business’s 50 day simple moving average is $20.72 and its two-hundred day simple moving average is $20.75. The firm has a market cap of $212.43 million, a P/E ratio of 17.63 and a beta of 0.25.

RGC Resources (NASDAQ:RGCO) last issued its earnings results on Monday, February 10th. The energy company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. As a group, research analysts forecast that RGC Resources will post 1.23 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of 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.