Cabot Oil & Gas (COG) will raise its quarterly dividend by 150 percent to $0.05 per share. The increased 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 is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties exclusively in the continental United States. Cabot’s exploration, development and production operations are primarily concentrated in the Marcellus Shale in northeast Pennsylvania. The company is headquartered in Houston, Texas and is a member of the S&P 500 Index.