EOG Resources Boosts Dividend as Shale Drillers Keep Focus on Returns

EOG Resources’ dividend bump announced Nov. 4 is the second this year and doubles last year’s dividend. Its shares were up 3.5% in late trading on Thursday at $94.10 each.

Liz Hampton, Reuters

U.S. oil and gas producer EOG Resources Inc. on Nov. 4 said it would raise its regular dividend by 82% and declared a $2 per share special dividend after posting sharply higher third-quarter results.

With oil and gas prices at multiyear highs, U.S. producers are topping Wall Street expectations for the quarter, prompting several to increase their dividends or announce share buy-backs to reward investors.

The Houston-based company reported adjusted net income of $1.3 billion, or $2.16 a share, versus $252 million, or 43 cents per share, in the same period a year ago.

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