Northwest Natural Gas raises dividend for 62nd year
The gas utility will increase its quarterly dividend to $0.4725 per share, marking 62 straight years of dividend increases.
The dividend will be paid Nov. 15, 2017 to shareholders of record on Oct. 31, 2017. Based on a stock price of $66 the dividend yield for NWN is 2.9%. The stock has gained 10.4% in 2017, dividends not included.
Northwest Natural Gas has raised its dividend for 62 consecutive yearsOut of 7 analysts tracking NWN, currently only 1 rates the stock a buy, with 4 analysts giving a 'hold' rating and 1 analyst recommending 'sell'. Keep in mind that the average analyst target price of $59.80 is almost 10 percent below the current stock price of NWN.
Last year the dividend was also raised by 0.5 percent.
Northwest Natural Gas Company (NW Natural) provides natural gas service to residential, commercial, and industrial in western Oregon and southwestern Washington. NW Natural and its subsidiaries currently own and operate underground gas storage facilities in Oregon and California.