By Connor Hart
Coterra Energy raised its dividend by 4.8%, to 22 cents.
The new payout, equal to 88 cents a year, represents an annual yield of about 3.1% based on Monday's closing price of $27.98.
The Houston oil and gas company said the higher dividend would be paid March 27 to shareholders of record as of March 13.
Coterra's dividend increase came as the company logged lower profit and revenue in the fourth quarter.
It posted a profit of $297 million, or 40 cents a share, compared with $416 million, or 55 cents a share, a year earlier.
Adjusted per-share earnings of 49 cents topped analyst views for 43 cents, according to FactSet.
Revenue fell to $1.4 billion from $1.6 billion a year earlier, dragged down by lower sales of oil and natural gas.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 24, 2025 17:40 ET (22:40 GMT)
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