National Fuel Declares Quarterly Dividend, Accelerates Payment
The Board of Directors of National Fuel Gas Company (“Company” or “National Fuel”) (NYSE: NFG) today approved payment of a regular quarterly dividend of 36.5 cents per share on the Company's common stock. The dividend is payable Dec. 28, 2012, to shareholders of record at the close of business on Dec. 17, 2012.
The Company has approximately 83.4 million shares of common stock outstanding. It has no preferred stock outstanding.
National Fuel has paid dividends for 110 consecutive years and has increased its annual dividend for 42 straight years. In June 2012, the dividend increased 2.8 percent.
“The Board of Directors chose to accelerate the payment to benefit shareholders affected by a potential increase in the tax rate on dividends in 2013,” said David F. Smith, Chairman and CEO of National Fuel Gas Company. “Moving our dividend payment up to the end of 2012 is in the best interest of our shareholders due to the complex fiscal and federal tax rate issues that may not be resolved in the next few weeks. We are pleased to move this quarterly payment to this tax year so that our shareholders who depend on these dividends may realize a greater benefit.”
Smith continued, “We have long supported the efforts of the national grassroots advocacy campaign ‘Defend My Dividend,' which seeks to extend the current federal tax rate for dividends. We know the importance of our dividend to our shareholders from all age groups and income levels who rely on payments as a steady source of income.”
For more information about the “Defend My Dividend” initiative, visit the Investor Relations page of the Company's website at investor.nationalfuelgas.com. Shareholders concerned about pending dividend tax changes should contact their U.S. Congress and Senate representatives.
National Fuel Gas Company is an integrated energy company with $5.9 billion in assets distributed among the following four operating segments: Exploration and Production, Pipeline and Storage, Utility, and Energy Marketing. Additional information about National Fuel is available on its website at www.nationalfuelgas.com or through its investor information service at 1-800-334-2188.
National Fuel Gas Company
Timothy J. Silverstein, 716-857-6987
Donna L. DeCarolis, 716-857-7872