National Fuel Gas' (NFG) Board Approves 4% Dividend Hike

Core Viewpoint - National Fuel Gas Company (NFG) has demonstrated a commitment to increasing its dividends, with a recent 4% hike, marking 54 consecutive years of annual increases, supported by strong operational performance and capital investments [10][2]. Dividend Performance - The new quarterly dividend rate is set at 51.5 cents per share, up from 49.5 cents, resulting in an annualized dividend of $2.06 per share compared to the previous $1.98 [10][3]. - NFG's current dividend yield stands at 3.6%, significantly higher than the Zacks S&P 500 composite average of 1.36% [3]. Investment and Growth Strategy - Since 2010, NFG has invested $2.7 billion in midstream operations to modernize its pipeline infrastructure, with over $500 million planned for the next five years [4]. - The acquisition of Royal Dutch Shell's upstream and midstream assets in Pennsylvania for $500 million has positively impacted NFG's earnings and production [11]. Operational Performance - NFG has consistently increased its total production since fiscal 2015, supported by systematic capital spending in its natural gas and oil operations [11]. - The company's midstream operation currently has 4.5 million dekatherms of daily interstate pipeline capacity under contract, with ongoing projects expected to enhance pipeline capacity and annual revenues [12]. Market Performance - Over the past three months, NFG shares have risen by 7%, outperforming the industry's growth of 5% [16]. - Price return performance data indicates NFG's growth compared to the Utility-Gas Distribution Market [8].