National Fuel Gas

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New Dividend: 36.5 cents quarterly (per share)

Dividend Percent Increase: 2.82%

Current Yield: 3.32%

Next up is National Fuel Gas ( nfg), a mid-cap integrated natural gas company. Last Thursday, NFG announced a 2.82% increase to its quarterly dividend payout, bringing it to 36.5 cents per share. While the change in NFG's dividend was small, it piled a bigger payout onto what was already a respectable yield. With the change factored in, NFG yields 3.32% at current prices.

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National Fuel Gas is a fully integrated nat gas company. That means that the firm explores for, produces, transports, and ultimately sells natural gas through its utility business in New York and Pennsylvania. Even though nat gas prices have been skipping across historic lows in the last few months, NFG's integrated operations help the firm collect solid net margins for their trouble.

If the substitution argument many nat gas watchers are making holds true (and energy consumers start substituting nat gas for pricier crude oil), profitability could climb considerably higher for NFG and peers.

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