New Jersey Resources
NJR BOARD OF DIRECTORS DECLARES DIVIDEND AND AUTHORIZES SHARE REPURCHASE PLAN
01/30/2006 - For Immediate ReleaseThe Board unanimously declared a quarterly dividend on its common stock of $.36 per share. The dividend will be payable on April 3, 2006 to shareowners of record on March 15, 2006.
The Board also authorized an increase in the company’s share repurchase plan from 2.5 million to 3.5 million shares. NJR was one of the first companies in the utility industry to offer a repurchase plan, which gives the company financial flexibility and is expected to create value for shareowners. NJR purchased 253,400 shares under the share repurchase plan during the quarter ended December 31, 2005. The plan allows NJR to purchase its shares on the open market or in negotiated transactions, based on market and other conditions. Since the plan began in September 1996, NJR has invested $91.8 million to repurchase 2.4 million shares.
New Jersey Resources (NYSE:NJR), a Fortune 1000 company and a member of the Forbes Platinum 400, provides reliable retail and wholesale energy services to customers in New Jersey and in states from the Gulf Coast to New England, and Canada. Its principal subsidiary, New Jersey Natural Gas, is one of the fastest-growing local distribution companies in the United States, serving more than 462,000 customers in central and northern New Jersey. Other major NJR subsidiaries include NJR Energy Services and NJR Home Services. NJR Energy Services is a leader in the unregulated energy services market, providing customer service and management of natural gas storage and capacity assets. NJR Home Services offers retail customers heating, air conditioning and appliance services. NJR’s progress is a tribute to the more than 5,000 dedicated employees who have shared their expertise and focus on quality through more than 50 years of serving customers and the community to make NJR a leader in the competitive energy marketplace. For more information, visit NJR’s Web site at njliving.com.
Contact:
Michael Kinney, Media
732-938-1031
Dennis Puma, Investors
732-938-1229
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