Baker Hughes Declares Increased Quarterly Dividend

Rhea-AI Summary

Baker Hughes (NASDAQ: BKR) Increases Quarterly Dividend by 5.3% to $0.20 Per Share

Positive

• Increased dividend reflects company's commitment to responsible growth
• 11.1% increase compared to the same quarter last year
• Funding dividend from cash generated from operations

Negative

• None.

HOUSTON and LONDON, July 27, 2023 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR) announced today that the Baker Hughes Board of Directors declared an increased quarterly cash dividend of $0.20 per share of Class A common stock payable on Aug. 18, 2023, to holders of record on Aug. 8, 2023. In line with our stated goal to responsibly grow the dividend over time, the dividend increase reflects a 5.3% growth rate, or $0.01, over the previous quarter’s dividend and an 11.1% increase, or $0.02, compared to the same quarter last year.

Baker Hughes expects to fund its quarterly cash dividend from cash generated from operations.

About Baker Hughes:
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Investor Relations

Jud Bailey
+1 281-809-9088
investor.relations@bakerhughes.com

Chase Mulvehill
+1 281-809-9088
investor.relations@bakerhughes.com

Media Relations

Thomas Millas
+1 713-879-2862
thomas.millas@bakerhughes.com

FAQ

What is Baker Hughes' (BKR) new quarterly cash dividend?

The new quarterly cash dividend is $0.20 per share of Class A common stock.

When is the dividend payable?

The dividend is payable on Aug. 18, 2023.

How does the new dividend compare to the previous quarter's dividend?

The new dividend represents a 5.3% growth rate, or $0.01, over the previous quarter’s dividend.

How is Baker Hughes funding its quarterly cash dividend?

Baker Hughes expects to fund its quarterly cash dividend from cash generated from operations.