The board of directors of New Jersey Resources Corp. has unanimously declared a quarterly dividend on its common stock of $0.40 per share. The dividend will be payable on July 1, 2013 to shareowners of record on June 14, 2013.

New Jersey Resources Corp. reported consolidated earnings results for the second quarter and six months ended March 31, 2013. For the quarter, the company reported total operating revenues of $960,885,000 against $612,921,000 for the same period in the last year. Operating income was $56,969,000 against $67,689,000 for the same period in the last year. Income before income taxes and equity in earnings of affiliates was $54,004,000 against $62,611,000 for the same period in the last year. Net income was $45,469,000 or $1.08 per diluted share against $54,535,000 or $1.31 per diluted share for the same period in the last year. Net financial earnings were $68,664,000 or $1.64 per basic share against $74,126,000 or $1.79 per basic share for the same period in the last year. For the six months, the company reported total operating revenues of $1,696,904,000 against $1,255,332,000 for the same period in the last year. Operating income was $144,160,000 against $142,907,000 for the same period in the last year. Income before income taxes and equity in earnings of affiliates was $135,635,000 against $133,351,000 for the same period in the last year. Net income was $105,675,000 or $2.52 per diluted share against $111,892,000 or $2.68 per diluted share for the same period in the last year. Net financial earnings were $104,157,000 or $2.50 per basic share against $119,434,000 or $2.88 per basic share for the same period in the last year. The company’s earnings for the remaining six months of fiscal 2013 should be in a range of $0.10 to $0.25 per share, and that would compare with a loss of $0.17 per share during the same period last year. The company is reaffirming its previously announced fiscal 2013 net financial earnings guidance in a range of $2.60 to $2.75 per basic share. The company expects capital expenditures for fiscal 2013, to exceed $200 million. That spending level will be driven by a 15% increase in spending by New Jersey Natural Gas compared with last year, NJNG will comprise the majority of capital spending in fiscal 2013, and spending related to Clean Energy Ventures will make up the difference.

New Jersey Resources Corp., Q2 2013 Earnings Call, May 02, 2013