COMMON STOCK

9 Months Ended

Sep. 30, 2013

Common Stock [Abstract]

Common Stock

COMMON STOCK:

The following shares were issued and outstanding at September 30:

	2013
Beginning Balance, January 1	31,653,262
New Issues During the Period:
Dividend Reinvestment Plan	256,210
Stock-Based Compensation Plan	78,363
Ending Balance, September 30	31,987,835

The par value ($1.25 per share) of stock issued was recorded in Common Stock and the net excess over par value of approximately $15.8 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 83,897 for the three months ended September 30, 2012, and 61,315 and 89,060 for the nine months ended September 30, 2013 and 2012, respectively. For the three months ended September 30, 2013, incremental shares of 67,196 were not included in the denominator for the diluted EPS calculation because they would have an antidilutive effect on EPS. 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. 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 $13.9 million and $41.5 million of equity capital through the DRP during the nine months ended September 30, 2013 and 2012, respectively.