COMMON STOCK

6 Months Ended

Jun. 30, 2012

Common Stock [Abstract]

Common Stock

COMMON STOCK:

The following shares were issued and outstanding at June 30:

	2012
Beginning Balance, January 1	30,212,453
New Issues During Period:
Dividend Reinvestment Plan	185,746
Stock-Based Compensation Plan	43,226
Ending Balance, June 30	30,441,425

The par value ($1.25 per share) of stock issued was recorded in Common Stock and the net excess over par value of approximately $10.4 million was recorded in Premium on Common Stock.

EARNINGS PER COMMON SHARE (EPS) — Basic EPS is based on the weighted-average number of common shares outstanding.  The incremental shares required for inclusion in the denominator for the diluted EPS calculation were 79,355 and 83,688 for the three months ended June 30, 2012 and 2011, respectively, and 76,313 and 87,980 shares for the six months ended June 30, 2012 and 2011, respectively. These shares relate to SJI’s restricted stock as discussed in Note 2.

DIVIDEND REINVESTMENT PLAN (DRP) —The Company offers a DRP which allows participating shareholders to purchase shares of SJI common stock by automatic reinvestment of dividends or optional purchases. From April 2008 through April 2011, shares of common stock offered by the DRP have been purchased in open market transactions.  Beginning in May 2011, shares of common stock offered by the DRP have been issued directly by SJI from its authorized but unissued shares of common stock. For the six months ended June 30, 2012, $9.3 million of equity capital was raised through the DRP.