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New Jersey Resources Raises Dividend for the 30th Consecutive Year

1. NJR raised its quarterly dividend from $0.45 to $0.475 per share. 2. New annual dividend rate will be $1.90 per share. 3. NJR has increased dividends annually for 30 years. 4. CEO emphasizes commitment to long-term shareholder value. 5. NJR operates in natural gas and clean energy sectors.

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FAQ

Why Very Bullish?

A consistent history of dividend increases attracts income-focused investors, boosting NJR's share price. Historical performance shows that such announcements often lead to a price uptick.

How important is it?

The dividend increase reflects strong financial health and strategic confidence, likely attracting investors and boosting share demand.

Why Long Term?

Long-standing dividend increases signal financial health, potentially leading to sustained investor interest. Similar companies have seen long-term appreciation following consistent dividend policies.

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Increases Quarterly Dividend to $0.475 Per Share

The board of directors (the "Board") of New Jersey Resources Corporation (NYSE:NJR) unanimously approved an increase in the quarterly dividend rate to $0.475 per share from $0.45 per share. The new quarterly rate will be effective with the dividend payable October 1, 2025 to shareowners of record on September 22, 2025.

The new annual dividend rate will be $1.90 per share. NJR has paid quarterly dividends continuously since its inception in 1952, and has raised the dividend every year for the last 30 years.

Steve Westhoven, President and CEO of NJR, stated, "This dividend increase reflects our continued commitment to delivering long-term value for shareholders. It highlights the Board's confidence in our financial strength and strategic direction as we advance initiatives that support sustainable growth and stakeholder success."

About New Jersey Resources

New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

  • New Jersey Natural Gas, NJR's principal subsidiary, operates and maintains natural gas transportation and distribution infrastructure to serve customers in New Jersey's Monmouth, Ocean, Morris, Middlesex, Sussex and Burlington counties.
  • Clean Energy Ventures invests in, owns and operates solar projects, providing customers with low-carbon solutions.
  • Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
  • Storage and Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River and the Adelphia Gateway Pipeline, as well as our 50% equity ownership in the Steckman Ridge natural gas storage facility.
  • Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its over 1,300 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as SAVEGREEN®.

For more information about NJR:

www.njresources.com.

Follow us on X.com (Twitter) @NJNaturalGas.

"Like" us on facebook.com/NewJerseyNaturalGas.

Media Contact:

Mike Kinney

732-938-1031

mkinney@njresources.com

Investor Contact:

Adam Prior

732-938-1145

aprior@njresources.com

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