The Board of Directors of National Fuel Gas Company (NYSE: NFG) (“National Fuel” or “Company”) today approved a 3 percent increase in the dividend on the Company’s common stock, raising the quarterly rate from 33.5 cents per share as approved in June 2009 to 34.5 cents per share, for an annual rate of $1.38 per share. This action marks the 108 th year of uninterrupted dividend payments and the 40 th consecutive year that National Fuel has increased its dividend. David F. Smith, Chairman of the Board, President and Chief Executive Officer of National Fuel, said, “We are pleased to announce another increase in our dividend. We take significant pride in our dividend history and are pleased that our balanced and integrated business model continues to generate value for our shareholders. The value of our dividend is enhanced by the favorable federal tax treatment that dividends currently receive.” The dividend is payable July 15, 2010, to shareholders of record at the close of business on June 30, 2010. The Company has approximately 81.9 million shares of common stock outstanding. It has no preferred stock outstanding. National Fuel supports the efforts of the national grassroots advocacy campaign “Defend My Dividend,” which is seeking to extend the preferred federal tax rate on dividends. The preferred rate is currently scheduled to expire on December 31, 2010. Additional information regarding the initiative is available at the Investor Relations page of the Company’s website. National Fuel is an integrated energy company with $5.0 billion in assets comprised of the following four operating segments: Exploration and Production, Pipeline and Storage, Utility, and Energy Marketing. Additional information about National Fuel is available at www.nationalfuelgas.com or through its investor information service at 1-800-334-2188.
More from Press Releases
NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling
The Supreme Court rules that previous congressional action forbidding states from legalizing sports betting was unconstitutional.
Walmart CEO: 'We Are Transforming Globally' With Flipkart
On its investor call on Wednesday morning, Walmart discusses the Flipkart deal.
March 24 Full-Day Course Offering: Professional Approach to Trading SPX
OptionsProfits, the CBOE, and Option Pit are hosting a class on March 24 that covers a wide variety of methods to trade the S&P 500.