HOUSTON--(BUSINESS WIRE)--Jul. 22, 2013--
Halliburton (NYSE: HAL) reported today that during the second quarter,
the company purchased 23 million shares of common stock at a total cost
of $1.0 billion. This significant repurchase activity left $0.7 billion
of repurchase capacity remaining under a program initially authorized by
Halliburton’s board of directors in 2006.
On July 18, 2013, Halliburton’s board of directors increased the
authorization to purchase Halliburton common stock by $4.3 billion, to a
new total repurchase capacity of $5.0 billion.
“Today’s announcement, together with the 39% increase in dividends
announced in the first quarter, reflects our growing confidence in the
strength of our business outlook,” said Dave Lesar, chairman, president
and chief executive officer. “We believe that our relentless focus on
generating best-in-class returns and our commitment to shareholder
distributions will deliver increased value to our shareholders going
forward.”
Halliburton’s board of directors also declared a 2013 third quarter
dividend of twelve and one-half cents ($0.125) a share on the company’s
common stock payable September 25, 2013 to shareholders of record at the
close of business on September 4, 2013. The company also reaffirmed
Halliburton’s intention to distribute total annual dividends of at least
15-20% of net income.
Founded in 1919, Halliburton is one of the world’s largest providers of
products and services to the energy industry. With more than 75,000
employees, representing 140 nationalities in approximately 80 countries,
the company serves the upstream oil and gas industry throughout the
lifecycle of the reservoir – from locating hydrocarbons and managing
geological data, to drilling and formation evaluation, well construction
and completion, and optimizing production through the life of the field.
Visit the company’s website at www.halliburton.com.
NOTE: The statements in this press release that are not historical
statements, including statements regarding future financial performance
and distributions, are forward-looking statements within the meaning of
the federal securities laws. These statements are subject to numerous
risks and uncertainties, many of which are beyond the company's control,
which could cause actual results to differ materially from the results
expressed or implied by the statements. These risks and uncertainties
include, but are not limited to, the trading prices of Halliburton
common stock and the availability and alternative uses of cash, and the
results of litigation, settlements, and investigations, including those
relating to the Macondo well incident. Halliburton's Form 10-K for the
year ended December 31, 2012, Form 10-Q for the quarter ended March 31,
2013, recent Current Reports on Form 8-K, and other Securities and
Exchange Commission filings also discuss some of the important risk
factors that may affect Halliburton's business, results of operations,
and financial condition. Halliburton undertakes no obligation to revise
or update publicly any forward-looking statements for any reason. There
can be no assurance as to the amount, timing or prices of share
repurchases or the amount or timing of dividends. The specific timing
and amount of repurchases may vary based on market conditions and other
factors. The share repurchase program may be suspended at any time.
Source: Halliburton
Halliburton, Investor Relations
Kelly Youngblood, 281/871-2688
investors@halliburton.com
or
Halliburton,
Corporate Affairs
Beverly Blohm Stafford, 281/871-2601
PR@halliburton.com
