NATIONAL FUEL GAS <NFG> SETS SPLIT, HIGHER PAYOUT National Fuel Gas Co said its board has approved a two-for-one stock split and will consider an increased cash dividend at its June meeting. The company also said management will recommend, at the June board meeting, an increase of 12 cts per share in the current annual dividend rate of 2.28 dlrs a share, raising it to 2.40 dlrs per share, or 1.20 dlrs a share after the split. National Fuel Gas said the split will be paid to holders of record May 29. A spokeswoman said the distribution date for the split has not been determined. The company said the split is subject to approval of the Securities and Exchange Commission under the Public Utility Holding Act. The company now has 11,928,871 shares outstanding.