Buffalo, NY-based National Fuel Gas Co. said Friday that it has elected Philip C. Ackerman to the position of chairman of the board, effective January 3. Ackerman, who became CEO of National Fuel in October 2001, succeeds Bernard J. Kennedy in both capacities. Ackerman, 57, joined the company in 1968 and has been president of National Fuel since July 1999. In other company action, the board of directors approved payment of a regular quarterly dividend of $0.2525 per share on the company’s common stock. In June 2001, the regular annual dividend was increased by 5.2% to an annual rate of $1.01, which included a special increase of 2 cents in addition to a 3-cent regular increase. These figures reflect the implementation of the company’s two-for-one common stock split on Sept. 7, 2001. The dividend is payable Jan. 15, 2002 to shareholders of record on Dec. 31, 2001. National Fuel is an integrated energy company with $3.4 billion in assets comprised of the following six operating segments: utility, pipeline and storage, exploration and production, international, energy marketing and timber.

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