Northwest Natural hikes dividend by 0.5%
On October 12, 2022, Northwest Natural Holding, formerly Northwest Natural Gas Company (NWN) announced that it will raise its quarterly dividend by another 0.5 percent to $0.485 per share in 2022. This follows similar dividend hikes announced by the utility company in the last couple of years. Northwest Natural has now increased its dividend for 67 consecutive years, making it the co-record holder in the United States.
The next NWN dividend will be paid on November 15, 2022 to shareholders of record on October 31, 2022. The Company's indicated annual dividend rate is $1.94 per share and yields 4.3% at a stock price of $45.78.
Northwest Natural Holding will now pay an estimated annual dividend of $66 million to shareholders. The company has announced a dividend hike of 0.5 percent in each of the last 8 years with dividend growth slowing since at least 2007.
Northwest Natural Holding Company provides natural gas service to residential, commercial, and industrial in western Oregon and southwestern Washington. It owns NW Natural Gas Company (NW Natural), NW Natural Water Company, LLC (NW Natural Water), and other business interests and activities. NW Natural and its subsidiaries provide natural gas service to communities in Oregon and Southwest Washington. NW Natural Holdings’ subsidiaries own and operate underground gas storage capacity and NW Natural Water provides water distribution service.
