HOUSTON--(BUSINESS WIRE)--Nov. 6, 2013--
Halliburton (NYSE: HAL) announced that its board of directors has
approved a 20 percent increase in its quarterly dividend. The 2013
fourth quarter dividend of fifteen cents ($0.15) a share on the
company’s common stock is payable on December 27, 2013, to shareholders
of record at the close of business on December 6, 2013.
“Today’s announcement, together with the 39% increase in dividends
announced in the first quarter and our recent share repurchases,
reflects our growing confidence in the strength of our business outlook,
our commitment to shareholder distributions, and our focus on delivering
best-in-class returns,” said Dave Lesar, chairman, president and chief
executive officer. “Going forward, we expect our dividend payout to be
at least 15-20% of net income. Additionally, we anticipate doing more
systematic buybacks, and expect announcements like this one today to
occur more frequently.”
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 strength, business outlook, and the amount and timing of dividends
or share repurchases, 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: results of litigation, settlements, and
investigations; actions by third parties, including governmental
agencies; whether a settlement relating to the Macondo multi-district
litigation will be reached at the amounts contemplated by our reserve or
at all; settlement discussions relating to the Macondo incident do not
cover all possible parties and claims, and there are additional
reasonably possible losses relating to the Macondo incident that we
cannot reasonably estimate at this time; with respect to repurchases of
Halliburton common stock, the continuation or suspension of the
repurchase program, the amount, the timing and the trading prices of
Halliburton common stock and the availability and alternative uses of
cash; changes in the demand for or price of oil and/or natural gas can
be significantly impacted by weakness in the worldwide economy;
consequences of audits and investigations by domestic and foreign
government agencies and legislative bodies and related publicity and
potential adverse proceedings by such agencies; indemnification and
insurance matters; protection of intellectual property rights and
against cyber attacks; compliance with environmental laws; changes in
government regulations and regulatory requirements, particularly those
related to offshore oil and natural gas exploration, radioactive
sources, explosives, chemicals, hydraulic fracturing services, and
climate-related initiatives; compliance with laws related to income
taxes and assumptions regarding the generation of future taxable income;
risks of international operations, including risks relating to unsettled
political conditions, war, the effects of terrorism, foreign exchange
rates and controls, international trade and regulatory controls, and
doing business with national oil companies; weather-related issues,
including the effects of hurricanes and tropical storms; changes in
capital spending by customers; delays or failures by customers to make
payments owed to us; execution of long-term, fixed-price contracts;
impairment of oil and natural gas properties; structural changes in the
oil and natural gas industry; maintaining a highly skilled workforce;
availability and cost of raw materials; and integration of acquired
businesses and operations of joint ventures. Halliburton's Form 10-K for
the year ended December 31, 2012, Form 10-Q for the quarter ended
September 30, 2013, recent Current Reports on Form 8-K, and other
Securities and Exchange Commission filings discuss some of the important
risk factors identified 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.
Source: Halliburton
Halliburton, Investor Relations
Kelly Youngblood, 281-871-2688
investors@halliburton.com
or
Halliburton,
Corporate Affairs
Cindy Bigner, 281-871-2601
PR@halliburton.com
