January 17, 2017
Contact: John S. D'Orazio
ANNOUNCES THREE-FOR-TWO STOCK SPLIT
Resources, Inc. (NASDAQ: RGCO) today announced that its
Board of Directors has approved a three-for-two stock split
of the Company's outstanding common stock. The stock split
will be effected in the form of a stock dividend entitling
each shareholder as of the record date to receive one additional
share of common stock for every two shares of common stock
owned. The stock dividend will be issued on March 1, 2017
to all shareholders of record at the close of business on
February 15, 2017.
"The stock split highlights the exceptional value RGC
Resources has delivered to shareholders over the long-term
as well as the short-term. Our team continues to execute
our strategies of investing in our regulated utility and
other growth opportunities, which have led to profitable
earnings growth, superior dividend growth and increased
shareholder value. We are excited about our prospects for
continued growth," said John S. D'Orazio, President
and Chief Executive Officer of RGC Resources, Inc. "The
decision to split the stock will also make the shares more
affordable to current and potential investors and should
lead to an increase in the trading volume of our stock."
RGC Resources last stock split was in 2011 when a two-for-one
stock split occurred.
RGC Resources, Inc. provides energy and related products
and services to customers in Virginia through its operating
subsidiaries Roanoke Gas Company and RGC Midstream, LLC.
From time to time, the Company may publish forward-looking
statements relating to such matters as anticipated financial
performance, business prospects, technological developments,
new products, research and development activities and similar
matters. The Private Securities Litigation Reform Act of
1995 provides a safe harbor for forward-looking statements.
In order to comply with the terms of the safe harbor, the
Company notes that a variety of factors could cause the
Company's actual results and experience to differ materially
from the anticipated results or other expectations expressed
in the Company's forward-looking statements. Past performance
is not necessarily a predictor of future results.