South Jersey Industries : South Jersey Industries Raises Dividend 5 Percent
November 23 2015 - 8:39AM
FOR IMMEDIATE
RELEASE
Telephone: 609-561-9000
Investor Relations Contact: Marissa Travaline x 4227
e-mail: mtravaline@sjindustries.com
Media Contact: Dan Lockwood x 4108
e-mail: dlockwood@sjindustries.com
November 23, 2015
South Jersey
Industries Raises Dividend 5 Percent
Folsom, NJ -
South Jersey Industries' (NYSE:SJI) announced today that its board
of directors voted to increase the company's regular quarterly
dividend from $0.25125 per share to $0.26375 per share. The new
annualized dividend of $1.055 represents an increase of five
percent per share over the previous level.
With this announcement, SJI has attained 17 consecutive years of
increasing its dividend.
"We are confident that the continued performance and growth of our
core businesses will support the dividend increase as well as
provide the foundation to enable us to achieve our long term
strategic objectives," said SJI President and CEO Michael J.
Renna.
"Specifically, infrastructure
investments and customer growth in our utility, strong
contributions from commodity marketing and new fuel supply
contracts, as well as the anticipated benefits from the PennEast
pipeline investment will each play a part in the growth, improved
quality of earnings and anticipated success of reaching $150
million of Economic Earnings by 2020," added Renna.
Factors that the SJI board of
directors considers when setting the dividend include future
earnings expectations, payout ratio, and dividend yield relative to
those at peer companies as well as returns available on other
income oriented investments.
The dividend is payable December
29, 2015 to shareholders of record at the close of business
December 10, 2015. This is SJI's 64th consecutive year of paying
dividends, reflecting the company's commitment to a consistent,
sustainable dividend.
ABOUT SOUTH JERSEY INDUSTRIES
South Jersey Industries (NYSE: SJI), an energy services holding
company based in Folsom, NJ, operates its business through two
primary subsidiaries. South Jersey Gas, one of the nation's fastest
growing natural gas utilities, delivers clean, efficient natural
gas and promotes energy efficiency to approximately 370,000
customers in southern New Jersey. SJI's non-regulated businesses,
under South Jersey Energy Solutions, promote efficiency, clean
technology and renewable energy by developing, owning and operating
on-site energy production facilities - including Combined Heat and
Power, Solar, and District Heating and Cooling projects; acquiring
and marketing natural gas and electricity for retail customers;
providing wholesale commodity marketing and fuel supply management
services; and offering HVAC and other energy-efficiency related
services. For more information about SJI and its subsidiaries,
visit http://www.sjindustries.com.
###
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: South Jersey Industries via Globenewswire
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