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SJI RAISES DIVIDEND
FOLSOM, N.J. -- South Jersey Industries
(NYSE:SJI) announced
today that its board of directors increased its regular quarterly dividend from
$0.375 to $0.385 per share. The annual dividend therefore increases $0.04 per
share to $1.54 annually. “This dividend increase underscores not only SJI’s
strong performance over the last several years, but also our future expectations
of 6% annualized earnings per share growth,” stated Charles Biscieglia,
SJI chairman, president and CEO. “SJI remains committed to providing its
shareholders with consistent, sustainable dividend growth.” The annualized
$0.04 per share increase follows three consecutive years of $0.02 per share
annual dividend increases. SJI’s move toward a 60% dividend payout ratio
continues even with the dividend increase. The dividend is payable December
30, 2002 to shareholders of record at the close of business December 10, 2002.
This is SJI’s 51st consecutive year of paying dividends and the fourth
consecutive year of increasing the dividend.
South Jersey Industries (NYSE:
SJI) is an energy services holding company for South Jersey Gas, South Jersey
Energy, South Jersey Resources Group, LLC and Marina Energy LLC. Visit http://www.sjindustries.com
for more information about SJI and its subsidiaries.
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