Cabot Oil & Gas Corporation Declares 2-for-1 Stock Split; Dividend Increased on Pre-split Basis

Cabot Oil & Gas Corporation COG today announced that its Board of Directors declared a two-for-one stock split of the Company's Common Stock to be accomplished by means of a stock distribution. The additional shares will be distributed on January 25, 2012 to shareholders of record on January 17, 2012. "Additionally, Cabot's quarterly dividend payments will increase 33 percent as the Board elected to approve an increase in the cash dividend on a pre-split basis from $0.12 to $0.16 per share annually," said Dan O. Dinges, Chairman, President and Chief Executive Officer. "Post-split Cabot shareholders will have experienced an increase in the annual dividend from approximately $12.5 million to $16.6 million in the aggregate. After the split, the Company will have approximately 208 million shares outstanding, which over the longer term should increase the liquidity in our stock."