National Fuel Increases Dividend Rate for 54th Consecutive Year

Rhea-AI Summary

National Fuel Gas Company (NYSE: NFG) announced a 4.0% increase in its common stock dividend rate, raising the quarterly dividend from 49.5 cents to 51.5 cents per share. This brings the annual dividend to $2.06 per share. The dividend is payable on July 15, 2024, to shareholders of record as of June 28, 2024. This marks the 54th consecutive year of dividend increases and the 122nd consecutive year of dividend payments. National Fuel Gas Company operates in four business segments: Exploration & Production, Pipeline & Storage, Gathering, and Utility, with 91.8 million shares of common stock outstanding.

Positive

• 4.0% increase in the dividend rate.
• Quarterly dividend raised from 49.5 cents to 51.5 cents per share.
• Annual dividend now $2.06 per share.
• 54 consecutive years of dividend increase.
• 122 consecutive years of dividend payments.
• Company has 91.8 million shares of common stock outstanding.

Negative

• None.

WILLIAMSVILLE, N.Y., June 13, 2024 (GLOBE NEWSWIRE) -- Today, the National Fuel Gas Company (“National Fuel” or the “Company”) (NYSE: NFG) Board of Directors approved a 4.0% increase in the dividend on the Company’s common stock, raising the quarterly rate from 49.5 cents per share as approved in June 2023 to 51.5 cents per share for an annual rate of $2.06 per share.

National Fuel has paid dividends for 122 consecutive years and has increased its annual dividend for 54 straight years.

This dividend is payable July 15, 2024, to stockholders of record at the close of business on June 28, 2024. The Company has approximately 91.8 million shares of common stock outstanding. It has no preferred stock outstanding.

National Fuel is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas assets across four business segments: Exploration & Production, Pipeline & Storage, Gathering, and Utility. Additional information about National Fuel is available at www.nationalfuel.com.

FAQ

When is the increased dividend for NFG payable?

The increased dividend for NFG is payable on July 15, 2024.

What is the new annual dividend rate for NFG?

The new annual dividend rate for NFG is $2.06 per share.

How many consecutive years has National Fuel increased its dividend?

National Fuel has increased its dividend for 54 consecutive years.

What was the previous quarterly dividend rate for NFG?

The previous quarterly dividend rate for NFG was 49.5 cents per share.

How many shares of common stock does National Fuel have outstanding?

National Fuel has approximately 91.8 million shares of common stock outstanding.

When is the record date for the new NFG dividend?

The record date for the new NFG dividend is June 28, 2024.