HOUSTON, Oct. 26 /PRNewswire-FirstCall/ -- Cabot Oil & Gas Corporation
(NYSE: COG) today announced that its Board of Directors declared a regular
dividend of four cents ($0.04) per share on the Company's common stock. The
dividend will be paid November 27, 2006, to all shareholders of record as of
the close of business November 13, 2006.
Cabot also announced that its Board of Directors added 2,000,000 shares to
its buyback authorization, bringing the available authorization to 2,397,650.
"Since early 2004 the Company has taken advantage of market weakness and
repurchased 1,945,900 shares at an average price of $37.84," said Dan O.
Dinges, Chairman, President and Chief Executive Officer. "There are times
when these investments are very compelling when compared to our underlying
valuation, and we wanted the flexibility to continue to pursue this avenue."
Cabot Oil & Gas Corporation, headquartered in Houston, Texas, is a leading
independent natural gas producer with substantial interests onshore Gulf
Coast; the West, with the Rocky Mountains and Mid-Continent; the East and in
Canada. For additional information, visit the Company's Internet homepage at
SOURCE Cabot Oil & Gas Corporation
CONTACT: Scott Schroeder, +1-281-589-4993, for Cabot Oil & Gas
3917 10/26/2006 14:10 EDT http://www.prnewswire.com