National Fuel Announces 107 Years of Uninterrupted Dividend Payments and 39 Consecutive Years of Increases
June 11 2009 - 2:18PM
Business Wire
The Board of Directors of National Fuel Gas Company (NYSE: NFG)
(�National Fuel� or �Company�) today approved a 3.1 percent
increase in the dividend on the Company�s common stock, raising the
quarterly rate from 32.5 cents per share as approved in June 2008
to 33.5 cents per share, for an annual rate of $1.34 per share.
This action marks the 107th year of uninterrupted dividend payments
and the 39th consecutive year that National Fuel has increased its
dividend.
David F. Smith, President and Chief Executive Officer of
National Fuel said, �This year, perhaps more than ever, we are
pleased to announce another increase in our dividend. Our ability
to pay a dividend with such consistency, while others have been
required to either cut or discontinue dividend payments, speaks to
the value of our integrated business model. We operate National
Fuel with a focus on providing long-term, sustainable results and,
for more than a century, our shareholders have benefited from the
strategic and deliberate diversification of our assets and the
careful management of our resources. Today�s action further
demonstrates our Board�s commitment to our dividend, which, in
these challenging economic times, provides exceptional value to our
shareholders.�
The dividend is payable July 15, 2009, to shareholders of record
at the close of business on June 30, 2009. The Company has
approximately 79.5 million shares of common stock outstanding. It
has no preferred stock outstanding.
National Fuel is an integrated energy
company with $4.2 billion in assets comprised of the following four
principal operating segments: Exploration and Production, Pipeline
and Storage, Utility, and Energy Marketing. Additional information
about National Fuel is available at http://www.nationalfuelgas.com
or through its investor information service at 1-800-334-2188.
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