HOUSTON, May 3, 2017 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced that its Board of Directors declared a 150 percent 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.
"With the momentum of our Marcellus operations from both the macro commodity and pipeline infrastructure outlooks, along with our expectation for continued positive free cash flow generation, our Board agreed with management's recommendation to increase the dividend," said Dan O. Dinges, Chairman, President and Chief Executive Officer. "Last week on our conference call I reviewed our uses for free cash flow highlighting returning cash to shareholders as an important consideration under our plan. Today marks a first step."
Cabot Oil & Gas Corporation, headquartered in Houston, Texas is a leading independent natural gas producer, with its entire resource base located in the continental United States. For additional information, visit the Company's homepage at www.cabotog.com.
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SOURCE Cabot Oil & Gas Corporation