Rgc Resources Stock Price, News & Analysis

RGC Resources (NASDAQ: RGCO) held its annual shareholders meeting on January 27, 2025, where three directors - Abney S. Boxley III, Elizabeth A. McClanahan, and John B. Williamson III - were elected for three-year terms. Shareholders also approved Deloitte & Touche, LLP as auditors for fiscal 2025.

Following the meeting, the Board appointed John B. Williamson III as Chairman and Paul W. Nester as President and CEO. Additional senior officers were elected, including Timothy J. Mulvaney as VP, CFO and Treasurer, Lawrence T. Oliver as Senior VP of Regulatory and External Affairs and Secretary, and C. Brooke Miles as VP of Human Resources.

The company's largest subsidiary, Roanoke Gas Company, also appointed its senior leadership team, with Paul W. Nester serving as President and CEO, and C. Jim Shockley, Jr. as VP and Chief Operating Officer.

RGC Resources (Nasdaq: RGCO) has announced its upcoming fiscal fourth quarter and 2024 fiscal year earnings conference call and webcast, scheduled for Thursday, December 5, 2024 at 9:00 a.m. eastern time. Presentation materials will be available prior to the call on the company's website. Interested participants can join via toll-free dial-in at 1-877-304-9269 using conference ID 917621. The webcast archive will be accessible for one year on the company's investor relations webpage.

RGC Resources (Nasdaq: RGCO) announced a quarterly dividend increase to $0.2075 per share, raising the annual dividend to $0.83 per share, representing a 3.8% increase from the previous level. This marks the company's 21st consecutive year of dividend increases and its 323rd consecutive quarterly cash dividend. The dividend will be paid on February 1, 2025, to shareholders of record on January 17, 2025. CEO Paul Nester highlighted strong operational and financial performance of Roanoke Gas utility and noted the completion of MVP in 2024, which now delivers natural gas to Southwest Virginia.

RGC Resources reported consolidated earnings of $11.76 million ($1.16 per share) for fiscal year 2024, up from $11.30 million ($1.14 per share) in 2023. The increase was driven by higher earnings from the Mountain Valley Pipeline (MVP) investment, which began service in June 2024. Despite lower natural gas costs reducing customer bills and revenues, the company secured a settlement for a $4.08 million annual revenue increase. However, Q4 2024 net income decreased to $140,822 ($0.01 per share) from $1.01 million ($0.10 per share) in Q4 2023, due to lower MVP earnings and higher interest expenses.

RGC Resources, Inc. (NASDAQ: RGCO) has announced its latest quarterly dividend. The Board of Directors declared a dividend of $0.20 per share on the company's common stock during their meeting on September 30, 2024. This dividend will be paid on November 1, 2024 to shareholders of record as of October 18, 2024.

Notably, this marks RGC Resources' 322nd consecutive quarterly cash dividend, highlighting the company's consistent commitment to shareholder returns. RGC Resources operates in Virginia, providing energy and related products and services through its subsidiaries, including Roanoke Gas Company and RGC Midstream, L.L.C.

RGC Resources, Inc. (Nasdaq: RGCO) reported consolidated earnings of $156,692, or $0.02 per share, for the third quarter ended June 30, 2024, down from $686,816, or $0.07 per share, in the same period last year. The decline was attributed to higher operating costs and lower earnings from the Mountain Valley Pipeline (MVP) investment. Despite this, the company's nine-month net income increased by 13% to $11,620,074, or $1.15 per share, primarily due to MVP earnings. CEO Paul Nester highlighted the MVP's transition to operational status, which is expected to enhance system reliability and support regional growth. Roanoke Gas has filed for rate relief to address increasing costs, with interim rates effective July 1, 2024.

RGC Resources, Inc. (Nasdaq: RGCO) has announced its upcoming fiscal third quarter 2024 earnings call and webcast, scheduled for Wednesday, August 7, 2024, at 9:00 a.m. eastern time. The company will review its quarterly results during this event. Interested parties can access the conference call by dialing toll-free 1-877-304-9269 and using the conference identification number 917621.

Prior to the call, related presentation materials will be available on the company's website under the Investor & Financial Information page. An archive of the webcast will be accessible for one year on the same webpage. RGC Resources provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream,

Roanoke Gas Company, a subsidiary of RGC Resources (Nasdaq: RGCO), marked a significant milestone by starting to receive natural gas from the new Mountain Valley Pipeline (MVP) on June 14, 2024. This is the first new interstate natural gas pipeline for the Roanoke Valley since 1965. The MVP enhances the supply and reliability of natural gas, meeting the increasing demand from residential, commercial, and industrial sectors. The pipeline also provides access to cheaper natural gas markets, benefiting customers and propelling regional economic development.

RGC Resources, Inc. (NASDAQ: RGCO) announced the declaration of a $0.20 per share quarterly dividend for its common stock, marking the 321st consecutive quarterly cash dividend. The dividend will be paid on August 1, 2024, to shareholders of record on July 17, 2024. RGC Resources, Inc. provides energy and related products and services in Virginia through its subsidiaries.