New Jersey Resources Corporation (NYSE:NJR) has earned a spot on the Best Dividend Stocks for Dividend Champions List.
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New Jersey Resources Corporation (NYSE:NJR) operates a combination of regulated and unregulated energy ventures. The primary focus is its subsidiary, New Jersey Natural Gas, which provides gas services to approximately 588,000 customers in some of the wealthiest and rapidly expanding regions of the state. Additionally, the firm engages in wholesale and retail gas marketing via its Energy Services division, develops solar energy initiatives through Clean Energy Ventures, and manages natural gas storage and transportation assets.
On September 10, New Jersey Resources Corporation (NYSE:NJR) made an announcement regarding a 5.6% increase in its dividend, raising the new quarterly amount to $0.475 per share. This increase marks the 30th consecutive year of dividend enhancements for the company. Furthermore, NJR has maintained an unbroken dividend payment record since 1952, solidifying its position as a strong candidate for a dividend champions list. As of October 2, the stock reflects a dividend yield of 4.05%.
Looking ahead, a significant part of NJR’s future hinges on successful regulatory outcomes and the continued growth of its utility business. The expansion of its customer base while investing in clean energy projects is a crucial strategy. Additionally, fluctuations in state and federal energy policies will remain influential in determining the company’s performance.
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