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

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 paid a dividend of 0.2075 per share by the energy company on Friday, August 1st. This represents a $0.83 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Friday, July 18th.

RGC Resources has raised its dividend by an average of 2.5% annually over the last three years and has raised its dividend every year for the last 22 years. RGC Resources has a dividend payout ratio of 64.3% indicating that 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 Up 2.8 %

RGCO traded up $0.60 during trading hours on Friday, hitting $21.70. 11,061 shares of the company's stock were exchanged, compared to its average volume of 12,200. The stock has a market cap of $223.44 million, a price-to-earnings ratio of 18.55 and a beta of 0.31. RGC Resources has a 1-year low of $19.05 and a 1-year high of $24.20. The stock's 50-day moving average is $20.99 and its two-hundred day moving average is $20.78. 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 (NASDAQ:RGCO - Get Free Report) last announced its quarterly earnings data 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%. Sell-side analysts predict that RGC Resources will post 1.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded RGC Resources from a "sell" rating to a "hold" rating in a research note 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.