NW Natural Gas pays dividend

For the second straight quarter, Northwest Natural Gas Co. will pay shareholders a 41.5 cent quarterly dividend, as the company strives for its 55th straight year of increasing dividend payments to shareholders.

The Portland-based natural gas utility (NYSE: NWN) on Tuesday said it will issue the quarterly dividend on common stock on Feb. 15 to all shareholders of record as of Jan. 29.

The company in October announced that its board was increasing the size of its quarterly dividend payments by 5 percent after four straight quarters of paying 39.5 cents per share.

It ended 2009 having paid $1.60 per share in annual dividends. Now the company is indicating a 2010 annual dividend payment of $1.66 per share.

Northwest Natural shares jumped less than 1 percent in late-morning trading to $44.38. Shares have traded between $37.71 and $46.47 in the past 52 weeks.