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

RGC Resources, Inc. (NASDAQ:RGCO - Get Free Report) announced a quarterly dividend on Tuesday, April 29th, RTT News reports. Investors of record on Friday, July 18th will be given a dividend of 0.2075 per share by the energy company on Friday, August 1st. This represents a $0.83 annualized dividend and a dividend yield of 4.03%.

RGC Resources has increased its dividend by an average of 2.5% per year over the last three years and has increased its dividend annually for the last 22 consecutive years. RGC Resources has a payout ratio of 64.3% indicating that 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 Price Performance

RGCO stock traded up $0.14 during mid-day trading on Tuesday, hitting $20.59. The company had a trading volume of 617 shares, compared to its average volume of 12,145. The company has a market capitalization of $211.96 million, a price-to-earnings ratio of 17.59 and a beta of 0.31. The company has a 50-day moving average price of $20.91 and a 200 day moving average price of $20.77. The company has a quick ratio of 0.41, a current ratio of 0.56 and a debt-to-equity ratio of 1.00. RGC Resources has a 12-month low of $19.05 and a 12-month high of $24.20.

RGC Resources (NASDAQ:RGCO - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The energy company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. On average, research analysts anticipate that RGC Resources will post 1.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.