RPC Announces 3-for-2 Stock Split; Increases Quarterly Cash Dividend by 20% to $0.12
RPC, Inc. (NYSE: RES) announced today that its Board of Directors has approved a three-for-two split of the Company's outstanding common shares. The split will be effected by issuing one additional share of common stock for every two shares of common stock held. The additional share of common stock will be distributed on March 9, 2012 to holders of record at the close of business on February 10, 2012. No fractional shares will be issued. Fractional share amounts resulting from the split will be paid to stockholders in cash.
RPC also announced that its Board of Directors declared a 20.0 percent increase in the regular quarterly cash dividend from $0.10 per share to $0.12 per share payable March 9, 2012 to common stockholders of record at the close of business on February 10, 2012. The dividend will be paid on pre-split shares.
