EX-Dividend Schedule: Cabot Oil & Gas Raised its Dividend by 20%; Will Trade Ex-Dividend on January 23, 2018
LONDON, UK / ACCESSWIRE / January 22, 2018 / Active-Investors has a free review on Cabot Oil & Gas Corp. (NYSE: COG) ("Cabot") following the Company's announcement that it will begin trading ex-dividend on January 23, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on January 22, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on COG:
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Dividend Declared
On January 03, 2018, Cabot Oil & Gas announced that its Board of Directors declared a 20% increase in its regular quarterly dividend to $0.06 per share on the Company's common stock. The dividend will be paid on February 07, 2018, to all shareholders of record as of close of business on January 24, 2018.
Cabot Oil & Gas' indicated dividend represents a yield of 0.86% compared to the average dividend yield of 2.08% for the Basic Materials sector. The Company has raised dividend for two years in a row.
Dividend Insight
Cabot has a dividend payout ratio of 48.0%, which means that the Company spends approximately $0.48 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Cabot is forecasted to report earnings of $1.02 per share for the next year, which is more than four times the Company's annualized dividend of $0.24 per share.
As of September 30, 2017, Cabot had total debt of $1.5 billion and cash on hand of $510.3 million. Total commitments under the Company's credit facility were at $1.8 billion, with approximately $1.7 billion currently available to Cabot. As of September 30, 2017, the Company had no debt outstanding under the credit facility, resulting in approximately $2.2 billion of liquidity. For the nine months ended September 30, 2017, Cabot's net cash provided by operating activities totaled $719.05 million compared to $257.71 million for the year ago comparable period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for Cabot
On December 20, 2017, Cabot announced that it has reached an agreement to sell its operated and non-operated Eagle Ford Shale assets to an affiliate of Venado Oil & Gas LLC for $765 million. The divestiture includes approximately 74,500 net acres of Eagle Ford Shale leasehold primarily located in Frio and Atascosa counties. Cabot's production from these properties during Q3 2017 was 15,656 barrels of oil equivalent (Boe) per day. This transaction is expected to close during Q1 2018, subject to customary closing conditions and adjustments.
Separately, the Company announced the sale of its remaining East Texas assets to an undisclosed buyer. This transaction is expected to close on or before July 01, 2018, subject to customary closing conditions and adjustments.
About Cabot Oil & Gas Corp.
Cabot is a leading independent natural gas producer, with its entire resource base located in the continental United States. As of December 31, 2016, it had proved reserves of approximately 8,576 billion cubic feet of natural gas equivalent. The Company was founded in 1989 and is headquartered in Houston, Texas.
Stock Performance Snapshot
January 19, 2018 - At Friday's closing bell, Cabot Oil & Gas' stock marginally fell 0.22%, ending the trading session at $27.51.
Volume traded for the day: 4.37 million shares.
Stock performance in the last month – up 1.55%; previous three-month period – up 7.38%; last six-month period – up 10.04%; and past twelve-month period –– up 22.38%
After last Friday's close, Cabot Oil & Gas' market cap was at $12.79 billion.
The stock has a dividend yield of 0.87%.
The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry. This sector was up 0.1% at the end of the session.
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