New Jersey Resources to raise quarterly dividend to 47.5c from 45c per share

The board of directors of New Jersey Resources (NJR) approved an increase in the quarterly dividend rate to 47.5c per share from $0.45 per share. The new quarterly rate will be effective with the dividend payable October 1 to shareowners of record on September 22. The new annual dividend rate will be $1.90 per share. Steve Westhoven, President and CEO of NJR, stated, “This dividend increase reflects our continued commitment to delivering long-term value for shareholders. It highlights the Board’s confidence in our financial strength and strategic direction as we advance initiatives that support sustainable growth and stakeholder success.”