National Fuel Gas (NFG) will raise its quarterly dividend by 2.3 percent to $0.445 per share in 2020. This follows a 2.4 percent dividend hike announced by the diversified energy company last year and will mark the 50th consecutive year in which National Fuel has increased its annual dividend.

The next dividend is payable July 15, 2020, to shareholders of record at the close of business on June 30, 2020. A new annual rate of $1.78 per share yields 4.3% at a stock price of $41.28.

In its press release announcing this dividend hike National Fuel notes that it has paid dividends for 118 consecutive years and has increased its annual dividend for 50 straight years.

National Fuel is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas and oil assets across five business segments: Exploration & Production, Pipeline & Storage, Gathering, Utility, and Energy Marketing.