New Jersey Resources Celebrates 40th Anniversary of Listing on the New York Stock Exchange
Company to Ring Closing Bell on July 12, 2022
WALL, N.J.–(BUSINESS WIRE)–Celebrating the 40th anniversary of its listing on the New York Stock Exchange (NYSE), New Jersey Resources (NYSE: NJR) President and CEO Steve Westhoven, together with members of the company’s board of directors, will mark the milestone by ringing The Closing BellSM.
“New Jersey Resources is a premier energy infrastructure company that is leading the way to a decarbonized energy future,” said Steve Westhoven, president and CEO of New Jersey Resources. “To be listed as a publicly traded company on the world’s largest stock exchange for 40 years is an honor and an accomplishment that reflects the talent of our team, the strength of our businesses and the confidence of our shareowners.”
Since it was first listed on the NYSE, NJR has grown considerably. The company’s market capitalization in 1982 was approximately $43 million and the company stock’s closing price on the first day of trading was $1.47, adjusted for splits. Today, it is valued at a market capitalization of $4.2 billion with a closing price of $43.70 as of July 8, 2022.
The value of $1,000 invested 40 years ago, assuming dividends were reinvested, would be over $203,500 as of today, or an average annual return of approximately 14.2%. NJR has paid quarterly dividends since its inception in 1952 and has increased its dividend in each of the last 26 years.
New Jersey Natural Gas (NJNG), NJR’s principal subsidiary, is also celebrating its 70th anniversary this year. With the purchase of Jersey Central Power and Light’s natural gas division by County Gas Company in 1952, NJNG was born. At the time, the company served approximately 90,000 customers. Today, it serves more than 568,000 customers.
A live webcast of The Closing Bell (at 4 p.m. EST) will be available on the NYSE website at www.nyse.com/bell. Videos and photos during and following the ceremony will be shared on NYSE’s Facebook pages, LinkedIn, and on Twitter @NYSE.
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 over 7,600 miles of natural gas transportation and distribution infrastructure to serve over 560,000 customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex and Burlington counties.
- Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of more than 370 megawatts, providing residential and commercial 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 Project, 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 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.
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