New Jersey Resources hikes dividend by 5.6%

New Jersey Resources (NJR) will hike its quarterly dividend by 5.6% to 47.5 cents per share in 2025. This marks 30 consecutive years of increases by the natural gas utility.

The board of directors of New Jersey Resources Corporation unanimously approved an increase in the quarterly dividend rate to $0.475 per share from $0.45 per share. The new quarterly rate will be effective with the dividend payable October 1, 2025 to shareowners of record on September 22, 2025.

The new annual dividend rate will be $1.90 per share. NJR has paid quarterly dividends continuously since its inception in 1952, and has raised the dividend every year for the last 30 years.

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.”

The dividend for NJR is 4.0% at a stock price of $47. Last year the company hiked its dividend by 7.1%.

Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions.