Cabot Oil & Gas didn't have to drill down very far to declare it will pay a quarterly cash dividend of $0.02 per share on May 24 to shareholders of record at the close of business on May 16.
That rate is the same that the natural gas producer has paid for the past year. It was then that Cabot increased its dividend 33%, and then split its stock 2-for-1. It's been a consistent dividend payor for more than a decade.
The new dividend annualizes to $0.08 per share, and yields 0.1% at the closing price of Cabot Oil & Gas's stock on May 2.
The article Cabot Oil & Gas Keeps Dividend at $0.02 originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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