New Jersey Resources Announces 2-for-1 Stock Split - Quick Facts

(RTTNews) - New Jersey Resources' (NJR) board unanimously approved a 2-for-1 stock split of its outstanding common stock, and a corresponding increase in authorized shares of common stock to 150 million.

Shareowners of record at the close of business on February 6, 2015 would receive an additional NJR share for every common share owned as of that date. The new shares resulting from the split would be distributed following the close of business on March 3, 2015. NJR would begin trading at its split adjusted price on March 4, 2015. As a result, the number of shares of NJR stock outstanding would increase to about 85 million.

Earlier to the stock split, the board also declared a quarterly dividend of $0.45 per share on its common stock. On a post-split basis, the quarterly dividend would be $0.225 per share, payable on April 1, 2015 to shareowners of record on March 13, 2015. NJR has paid quarterly dividends continuously since its inception in 1952.

An announcement is to be made during the company's Annual Shareowners' Meeting held at Eagle Oaks Golf and Country Club in Farmingdale, New Jersey.