The Board of Directors of Northwest Natural Gas Company (NYSE:NWN), dba NW Natural, has increased the quarterly dividend on the company's common stock to 39.5 cents from 37.5 cents per share, an increase of 5.3 percent. The dividends will be paid November 14, 2008, to shareholders of record on October 31, 2008.
NW Natural will have paid $1.52 per share in dividends on its common stock in 2008, the 53rd consecutive year in which the company's dividend payments have increased. The indicated annual dividend rate is now $1.58 per share.
About NW Natural
NW Natural is headquartered in Portland, Ore., and serves about 657,000 residential and business customers in Oregon and Southwest Washington. It is the largest independent natural gas utility in the Pacific Northwest. NW Natural has approximately $2 billion in total assets, which includes about 16 billion cubic feet (Bcf) of underground gas storage capacity within its service territory at Mist, Ore., and plans to build a 20 Bcf underground gas storage facility near Fresno, Calif., as well as a 220-mile planned pipeline to serve customers in Oregon. For more information about NW Natural, please visit www.nwnatural.com.