New Jersey Resources Corporation (NYSE:NJR) is included among the Best Dividend Stocks for a Dividend Champions List.
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New Jersey Resources Corporation (NYSE:NJR) runs a mix of both regulated and unregulated energy businesses. Its main operation is New Jersey Natural Gas, which supplies gas to roughly 588,000 customers across some of the state’s wealthier and faster-growing counties. Alongside that, the company is involved in wholesale and retail gas marketing through its Energy Services unit, develops solar projects under Clean Energy Ventures, and owns storage and transportation assets for natural gas.
On September 10, New Jersey Resources Corporation (NYSE:NJR) announced that it is increasing its dividend by 5.6%, which will now take its quarterly dividend to $0.475 per share. Through this hike, the company achieved its 30th consecutive year of dividend growth. Moreover, NJR has never missed a dividend since 1952, which makes it a strong contender for a dividend champions list. The stock supports a dividend yield of 4.05%, as of October 2.
For the long haul, a lot of its future depends on winning favorable regulatory decisions and keeping its utility business growing. Expanding the customer base while continuing to put money into clean energy projects is a key piece of that plan. At the same time, changes in state and federal energy policy will continue to play a big role in shaping how the company performs.
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