NFG (National Fuel Gas Co) Dividend Payout Ratio: 0.20 (As of Mar. 2026) — 56% Below Median

What is National Fuel Gas Co Dividend Payout Ratio?

National Fuel Gas Co NFG +0.11% 86 Dividend Payout Ratio is 0.20 as of Mar. 2026, which is 56% below its 10-year median of 0.45. GuruFocus rates NFG with a GF Score™ of 86/100 and a GF Value™ of $78.57 (Fairly Valued). The stock has 1 warning sign investors should review. Among 433 Oil & Gas companies, National Fuel Gas Co ranks better than 79.21% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. National Fuel Gas Co's Dividend Payout Ratio for the months ended in Mar. 2026 was 0.20.

The historical rank and industry rank for National Fuel Gas Co's Dividend Payout Ratio or its related term are showing as below:

NFG' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.28 Med: 0.45 Max: 0.6
Current: 0.28

During the past 13 years, the highest Dividend Payout Ratio of National Fuel Gas Co was 0.60. The lowest was 0.28. And the median was 0.45.

NFG's Dividend Payout Ratio is ranked better than
79.21% of 433 companies
in the Oil & Gas industry
Industry Median: 0.5 vs NFG: 0.28

As of today (2026-06-25), the Dividend Yield % of National Fuel Gas Co is 2.79%.

During the past 13 years, the highest Trailing Annual Dividend Yield of National Fuel Gas Co was 5.09%. The lowest was 2.20%. And the median was 3.11%.

National Fuel Gas Co's Dividends per Share for the months ended in Mar. 2026 was $0.54.

During the past 12 months, National Fuel Gas Co's average Dividends Per Share Growth Rate was 3.90% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 4.10% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 3.70% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 2.90% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of National Fuel Gas Co was 30.20% per year. The lowest was 2.30% per year. And the median was 3.30% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

National Fuel Gas Co (NYSE:NFG) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

National Fuel Gas Co Dividend Payout Ratio Related Terms

National Fuel Gas Co Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for National Fuel Gas Co's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

National Fuel Gas Co Dividend Payout Ratio Chart

National Fuel Gas Co Annual Data

Trend

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Sep24

Sep25

Dividend Payout Ratio

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0.42

0.32

0.38

0.40

0.30

National Fuel Gas Co Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Dividend Payout Ratio	Get a 7-Day Free Trial															0.22	0.33	0.44	0.26	0.20

NFG vs DEC, UNTC, SLNG: Dividend Payout Ratio Comparison

For the Oil & Gas Integrated subindustry, National Fuel Gas Co's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

National Fuel Gas Co Dividend Payout Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, National Fuel Gas Co's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where National Fuel Gas Co's Dividend Payout Ratio falls into.

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86GF Score

National Fuel Gas Co NFG

Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.

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National Fuel Gas Co Dividend Payout Ratio Calculation

National Fuel Gas Co's Dividend Payout Ratio for the fiscal year that ended in Sep. 2025 is calculated as

Dividend Payout Ratio	=	Dividends per Share (A: Sep. 2025 )	/	EPS without NRI (A: Sep. 2025 )
	=	2.1	/	6.91
	=	0.30

National Fuel Gas Co's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio	=	Dividends per Share (Q: Mar. 2026 )	/	EPS without NRI (Q: Mar. 2026 )
	=	0.535	/	2.71
	=	0.20

Frequently Asked Questions Learn more about Dividend Payout Ratio →

What does a Dividend Payout Ratio of 0.20 mean?

National Fuel Gas Co (NFG) has a Dividend Payout Ratio of 0.20 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on National Fuel Gas Co and its competitors. This is 56% below median its historical median of 0.45. Over the past decade, National Fuel Gas Co's Dividend Payout Ratio has ranged from 0.28 to 0.60. According to the industry distribution chart, National Fuel Gas Co ranks #90 out of 433 companies in the Oil & Gas industry, placing it in the top 20.8%.

Is National Fuel Gas Co's Dividend Payout Ratio too high?

National Fuel Gas Co's current Dividend Payout Ratio of 0.20 is 56% below median its 10-year median of 0.45. Over the past 10 years, this metric has ranged from a low of 0.28 to a high of 0.60. The Oil & Gas industry median Dividend Payout Ratio is 0.50. National Fuel Gas Co's value of 0.20 is 60% below this industry median. Based on the distribution chart, National Fuel Gas Co ranks #90 out of 433 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, National Fuel Gas Co has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does National Fuel Gas Co's Dividend Payout Ratio compare to DEC and UNTC?

According to the Oil & Gas industry distribution chart, National Fuel Gas Co ranks #90 out of 433 companies for Dividend Payout Ratio. This places National Fuel Gas Co in the top 21% of its industry — outperforming the majority of peers. The industry median Dividend Payout Ratio is 0.50. National Fuel Gas Co's value of 0.20 is 60% below this benchmark. Historically, National Fuel Gas Co's own Dividend Payout Ratio has ranged from 0.28 to 0.60 over the past decade. While the company's 10-year median is 0.45 vs. the industry median of 0.50, National Fuel Gas Co has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Dividend Payout Ratio for an Oil & Gas company?

The median Dividend Payout Ratio among Oil & Gas companies is 0.50, based on 433 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Fuel Gas Co's current Dividend Payout Ratio of 0.20 is 60% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Dividend Payout Ratio mean?

A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on National Fuel Gas Co and its competitors. For the Oil & Gas industry, the median Dividend Payout Ratio is 0.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Fuel Gas Co's current Dividend Payout Ratio is 0.20, which is 56% below median its own 10-year median of 0.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is National Fuel Gas Co stock overvalued right now?

Based on GuruFocus' analysis, National Fuel Gas Co (NFG) is currently considered Fairly Valued. The stock's GF Value™ is $78.57, compared to a current price of $76.72 — trading 2.4% below its estimated fair value. The current Dividend Payout Ratio is 0.20, which is 56% below median its 10-year median of 0.45 and 60% below the Oil & Gas industry median of 0.50. National Fuel Gas Co's overall GF Score™ is 86/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Dividend Payout Ratio calculated?

Dividend Payout Ratio is calculated from a company's financial statements. For National Fuel Gas Co (NFG), the current Dividend Payout Ratio is 0.20 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is National Fuel Gas Co (NFG) Overvalued in 2026?

Based on GuruFocus' analysis, National Fuel Gas Co stock appears to be undervalued. The current stock price of $76.72 is trading 2.4% below its estimated GF Value™ of $78.57. GuruFocus considers National Fuel Gas Co to be Fairly Valued.

Key valuation signals for NFG:

Dividend Payout Ratio: 0.20 (56% below median its 10-year median of 0.45)
GF Value™: $78.57 vs. price of $76.72 (2.4% below fair value)
GF Score™: 86/100 with 1 warning sign
Industry Position: 60% below the Oil & Gas median (#90 of 433)

No single metric tells the full story. See the NFG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

National Fuel Gas Co Business Description

Industry Energy Oil & Gas

Comparable Companies DEC UNTC SLNG SKYQ ECTM VIVK SAU:2222 XOM CVX SHSE:601857 LSE:SHEL XPAR:TTE BSP:PETR3 LSE:BP.OSL:EQNR HKSE:00386 MIL:ENI TSX:SU ADX:ADNOCGAS TSX:IMO

Other Exchanges NFG:Mexico NFG:Germany

Address 6363 Main Street, Williamsville, NY, USA, 14221

Website https://www.nationalfuel.com

National Fuel Gas Co is a diversified energy company involved in natural gas production, gathering, transportation, distribution, and marketing. It operates through three segments: Integrated Upstream and Gathering, Pipeline and Storage, and Utility. The majority of revenue comes from the Integrated Upstream and Gathering segment, which focuses on Seneca's natural gas exploration and development in the Appalachian region and Midstream operations supporting gas processing and gathering. The Pipeline and Storage segment transports and stores natural gas for customers in the northeastern United States and Canada, while the Utility segment supplies natural gas to retail customers in western New York and northwestern Pennsylvania. the company opeartes in United States.

86GF Score

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$76.72

Price

$78.57

GF Value

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