Cabot Oil & Gas Corp (COG) will raise its quarterly dividend by 28.6 percent to $0.09 per share in 2019. Last year the natural gas producer hiked its dividend by 40.0 percent.

The next dividend will be paid on May 29, 2019 to all shareholders of record as of the close of business on May 15, 2019. A new annualized rate of 36 cents per share yields 1.4% at a stock price of $26.66.

"Our capital allocation strategy remains focused on returning at least 50 percent of our free cash flow to shareholders annually through the combination of a growing dividend and share repurchases," highlighted Dinges. "Even when stress-testing our five-year plan to natural gas prices that are significantly below the current forward curve, Cabot's anticipated free cash flow profile would enable the Company to continue to grow its dividend over time to a yield that is competitive relative to the broader equity market."

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 Oil & Gas Corporation is headquartered in Houston, Texas.