National Fuel Gas Raises Quarterly Dividend by 3.7% to 55.5 Cents
NFG is trading near its 52-week low of $75.85 (2.2% above the low).
Summary
National Fuel Gas announced a 3.7% increase in its quarterly dividend, raising it from $0.535 to $0.555 per share. This positive capital allocation decision follows a period of significant financial activity, including the recent completion of a $1.5 billion senior notes offering to fund the CenterPoint Ohio acquisition and securing a new $1.3 billion revolving credit facility. The dividend hike signals management's confidence in the company's financial health and future cash flow generation, reinforcing its commitment to shareholder returns despite recent debt-funded growth initiatives.
At the time of this announcement, NFG was trading at $77.53 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $7.4B. The 52-week trading range was $75.85 to $97.06. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.