National Fuel Gas Company (NYSE: NFG) announced that its board of directors has approved a 4% increase in its quarterly dividend rate. The company has paid dividends for 122 consecutive years, and this marks its annual dividend hike for 54 consecutive years. The new dividend rate will be 51.5 cents per share compared with the previous quarter's 49.5 cents, payable on Jul 15, 2024, to stockholders of record as of Jun 28. This increase resulted in an annualized dividend of $2.06 per share compared with the previous level of $1.98. National Fuel Gas' current dividend yield is 3.6%, higher than the Zacks S&P 500 composite's average of 1.36%. Can NFG Sustain Dividend Hikes? The company's systematic capital spending to strengthen its natural gas and oil operations is positively impacting its total production. It has been consistently increasing its total production since ...