RGC Resources, Inc. to Issue Quarterly Dividend of $0.20 (NASDAQ:RGCO)

RGC Resources, Inc. (NASDAQ:RGCO) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Wednesday, July 17th will be paid a dividend of 0.20 per share by the energy company on Thursday, August 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Wednesday, July 17th.

RGC Resources has increased its dividend by an average of 4.1% per year over the last three years. RGC Resources has a payout ratio of 63.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RGC Resources to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 63.0%.

RGC Resources Stock Performance

Shares of RGCO opened at $21.38 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.00 and a current ratio of 1.31. The stock has a 50 day moving average price of $20.35 and a two-hundred day moving average price of $19.88. The firm has a market capitalization of $217.65 million, a P/E ratio of 16.45 and a beta of 0.16. RGC Resources has a 52 week low of $15.36 and a 52 week high of $21.89.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The company had revenue of $32.66 million for the quarter, compared to the consensus estimate of $34.00 million. RGC Resources had a return on equity of 12.66% and a net margin of 15.82%. During the same period in the prior year, the firm posted $0.64 earnings per share. Equities analysts forecast that RGC Resources will post 1.14 earnings per share for the current fiscal year.

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.