Cabot Oil & Gas announces 150% dividend increase
Cabot Oil & Gas Corporation Board of Directors declared a 150 % increase in its regular quarterly dividend to five cents ($0.05) per share on the Company’s common stock.
The dividend will be paid on May 31, 2017 to all shareholders of record as of the close of business on May 17, 2017.
Dan O. Dinges, Chairman, President and Chief Executive Officer said that with the momentum of their Marcellus operations from both the macro commodity and pipeline infrastructure outlooks, along with our expectation for continued positive free cash flow generation, their Board agreed with management’s recommendation to increase the dividend. Last week on their conference call he reviewed their uses for free cash flow highlighting returning cash to shareholders as an important consideration under their plan. Today marks a first step.