RPC Announces Special Year-End Cash Dividend of $0.20 per Share
RPC (NYSE: RES) announced today that its Board of Directors declared a special year-end dividend of $0.20 per share payable December 26, 2012 to common stockholders of record at the close of business on November 30, 2012. This special year-end dividend is in addition to the Company's regularly quarterly cash dividend of $0.08 per share payable December 10, 2012 to common stockholders of record at the close of business on November 9, 2012.
"The decision of our Board of Directors to pay a special year-end dividend represents a sensible return of capital to our shareholders that we will accomplish in a tangible and immediate manner," stated Richard A. Hubbell, RPC's President and Chief Executive Officer. "Our balance sheet will remain strong following the payment of this dividend, and we note that we will continue to be conservatively capitalized and have the financial capacity to support our operations and pursue strategic opportunities to enhance our shareholder value."
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