New Jersey Resources Board of Directors Increases Quarterly Dividend 6.9 Percent

WALL, N.J.–(BUSINESS WIRE)–Today, the board of directors of New Jersey Resources (NYSE: NJR)
unanimously approved a 6.9 percent increase in the quarterly dividend
rate to $.2725 per share from $.255 per share. The new quarterly rate
will be effective with the dividend payable October 2, 2017 to
shareowners of record on September 22, 2017. The new annual dividend
rate will be $1.09 per share. This dividend replaces the previously
announced dividend of $.255 per share approved on July 11, 2017 for
shareowners of record on September 22, 2017. NJR has paid quarterly
dividends continuously since its inception in 1952, and this marks the 24th
dividend increase over the last 22 years.

“Our shareowners look to us to provide them with a competitive return on
their investment,” said Laurence M. Downes, chairman and CEO of New
Jersey Resources. “I am pleased the strength of our organization and our
solid financial performance this year continues to provide exceptional
value for our investors.”

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that,
through its subsidiaries, provides safe and reliable natural gas and
clean energy services, including transportation, distribution, asset
management and home services. NJR is composed of six primary businesses:

• New Jersey Natural Gas, NJR’s principal subsidiary, operates
  and maintains over 7,300 miles of natural gas transportation and
  distribution infrastructure to serve over half a million customers in
  New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex and
  Burlington counties.
• NJR Clean Energy Ventures invests in, owns and operates solar
  and onshore wind projects with a total capacity of more than 300
  megawatts, providing residential and commercial customers with
  low-carbon solutions.
• NJR Energy Services manages a diversified portfolio of natural
  gas transportation and storage assets and provides physical natural
  gas services and customized energy solutions to its customers across
  North America.
• NJR Retail Services (NJRRS), provides retail natural gas supply
  and transportation services to commercial, industrial and municipal
  customers in New Jersey, Pennsylvania, Maryland and Delaware. In
  addition, NJRRS offers flexible supply options, competitive pricing
  and operational services, including pricing, hedging, nominations,
  balancing and scheduling to meet customer needs.
• NJR Midstream serves customers from local distributors and
  producers to electric generators and wholesale marketers through its
  50 percent equity ownership in the Steckman Ridge natural gas storage
  facility and its stake in Dominion Midstream Partners, L.P., as well
  as its 20 percent equity interest in the PennEast Pipeline Project.
• NJR Home Services provides service contracts as well as
  heating, central air conditioning, water heaters, standby generators,
  solar and other indoor and outdoor comfort products to residential
  homes throughout New Jersey.

NJR and its more than 1,000 employees are committed to helping customers
save energy and money by promoting conservation and encouraging
efficiency through Conserve to Preserve® and initiatives such
as The SAVEGREEN Project® and The Sunlight Advantage®.

For more information about NJR:

Visit www.njresources.com.
Follow
us on Twitter @NJNaturalGas.
“Like” us on
facebook.com/NewJerseyNaturalGas.
Download our free NJR investor
relations app for iPad, iPhone and Android.

NJR-D

Contacts

New Jersey Resources
Investors:
Dennis Puma,
732-938-1229
[email protected]
or
Media:
Michael
Kinney, 732-938-1031
[email protected]