COMMON STOCK

12 Months Ended

Dec. 31, 2012

Common Stock [Abstract]

COMMON STOCK

COMMON STOCK:

The following shares were issued and outstanding at December 31:

	2012	2011	2010
Beginning of Year	30,212,453	29,872,825	29,796,232
New Issues During Year:
Dividend Reinvestment Plan	1,397,583	259,359	—
Stock-Based Compensation Plan	43,226	80,269	76,593
End of Year	31,653,262	30,212,453	29,872,825

The par value ($1.25 per share) of stock issued was recorded in Common Stock and the net excess over par value at December 31, 2012, 2011, and 2010 of approximately $72.5 million, $16.0 million, and $2.8 million, respectively, 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 79,475, 86,031, and 112,551 shares for the years ended December 31, 2012, 2011 and 2010, 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. The Company raised $70.2 million and $13.4 million of equity capital through the DRP during the years ended December 31, 2012 and 2011, respectively.