SJI Raises Dividend for 22nd Consecutive Year
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South Jersey Industries News
FOLSOM, NJ, November 23, 2020 – SJI (NYSE: SJI) announced today that its board of directors voted to increase the company’s regular quarterly dividend from $0.2950 per share to $0.3025 per share. The new annualized dividend of $1.21 represents an increase of 2.54 percent per share over the previous level.
With this announcement, SJI has increased its dividend for 22 consecutive years.
Factors the board of directors consider 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, 2020 to shareholders of record at the close of business on December 10, 2020 with an ex-dividend date of December 9, 2020. This is SJI’s 69th consecutive year of paying dividends, reflecting the company’s commitment to a consistent, sustainable dividend.