The board of directors of New Jersey Resources unanimously approved a 9 percent increase in the quarterly dividend rate to $.3625 per share from $.3325 per share. The new quarterly rate will be effective with the dividend payable October 1, 2021 to shareowners of record on September 20, 2021. This dividend replaces the previously announced dividend of $.3325 per share approved on July 14, 2021 for shareowners of record on September 20, 2021.
The new annual dividend rate will be $1.45 per share. NJR has paid quarterly dividends continuously since its inception in 1952, and this marks the 28th dividend increase over the last 26 years.
“Today’s action by our board of directors reflects our continued commitment to provide value for shareowners,” said Steve Westhoven, President and CEO of New Jersey Resources. “The larger increase in our dividend this year reflects NJR’s strong results and our confidence in our strategic outlook,” Westhoven said.