Cabot Oil & Gas (COG) will raise its quarterly dividend by another 16.7 percent to $0.07 per share in the fourth quarter of 2018. Earlier this year the natural gas producer also hiked its dividend.

The increased dividend is payable on November 16, 2018, to holders of record as of November 7, 2018. A new annual dividend of 28 cents per share yields 1.2% at a stock price of $22.92.

"With the in-service of the Atlantic Sunrise pipeline project now in the rearview mirror, we have full confidence in the Company's ability to generate significant free cash flow in the coming years," commented Dan O. Dinges, Chairman, President and Chief Executive Officer. "As a result, we are increasing our dividend for the third time in the last 18 months as we continue to increase the focus of our capital allocation on returning cash to our shareholders."

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.