The board of directors (the “Board”) of New Jersey Resources Corporation (NYSE: NJR) unanimously approved a 7.7 percent increase in the quarterly dividend rate to $0.42 per share from $0.39 per share. The new quarterly rate will be effective with the dividend payable October 2, 2023 to shareowners of record on September 20, 2023. This dividend replaces the previously announced dividend of $0.39 per share approved on July 12, 2023 for shareowners of record on September 20, 2023.

The new annual dividend rate will be $1.68 per share. NJR has paid quarterly dividends continuously since its inception in 1952, and has raised the dividend every year for the last 28 years.

New Jersey Reasources