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

RGC Resources, Inc. (NASDAQ:RGCO) declared 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 annualized dividend and a yield of 4.02%.

RGC Resources has increased its dividend payment by an average of 2.5% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. RGC Resources has a dividend payout ratio of 64.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 %

NASDAQ RGCO traded down $0.37 during midday trading on Friday, hitting $20.63. 7,575 shares of the company traded hands, compared to its average volume of 12,144. RGC Resources has a 52 week low of $18.62 and a 52 week high of $24.20. The company’s 50-day simple moving average is $20.72 and its 200-day simple moving average is $20.75. The company has a market cap of $212.43 million, a PE ratio of 17.63 and a beta of 0.25. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.56 and a quick ratio of 0.41.

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

Wall Street Analyst Weigh In

Separately, StockNews.com raised 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.