New Jersey utility companies announce dividend increase and rate adjustments

New Jersey Resources Corporation has announced an increase in its quarterly dividend to $0.50 per share, up from $0.475 per share. This marks the 31st consecutive year of dividend increases for the energy infrastructure company. The new annual rate of $2.00 per share is scheduled to become effective for dividends payable on October 1, 2026.

Separately, New Jersey American Water will implement rate increases for water and wastewater services starting September 15 following approval from the New Jersey Board of Public Utilities. The increase is intended to fund $1.4 billion in infrastructure upgrades, including the replacement of aging water mains and lead service lines.

To mitigate costs, eligible customers will receive a monthly credit through the PFAS Litigation Universal Surcredit (PLUS), funded by PFAS litigation settlements. For qualifying customers, this credit is expected to more than offset the rate increase, potentially resulting in a net monthly reduction in bills for a 12-month period.