Core Lab Announces Q3 2020 Quarterly Dividend

Rhea-AI Summary

Core Laboratories N.V. (NYSE: CLB) announced a cash dividend of $0.01 per share for Q3 2020, payable on August 10, 2020, to shareholders of record as of July 27, 2020. This follows a $0.25 dividend in Q1 2020 and another $0.01 in Q2, bringing the total dividend payout for 2020 to $0.28 per share if maintained. Future dividends will depend on the Company’s financial standing, earnings outlook, capital plans, and other relevant factors.

Positive

• Total dividend for 2020 potentially reaches $0.28 per share.
• Company maintains dividend despite market conditions.

Negative

• None.

AMSTERDAM, July 17, 2020 /PRNewswire/ -- The Board of Supervisory Directors of Core Laboratories N.V. (NYSE: "CLB US" and Euronext Amsterdam Exchange: "CLB NA") ("Core", "Core Lab", or the "Company") has announced a cash dividend of $0.01 per share of common stock payable in the third quarter of 2020. This third quarter dividend amount, if maintained for the fourth quarter of the year, and when added to the Q1 2020 dividend of $0.25 per share and the Q2 2020 dividend of $0.01 per share, would mean a total payout for the year of $0.28 per share of common stock. The third quarter $0.01 per share cash dividend will be payable on Monday, 10 August 2020, to shareholders of record on Monday, 27 July 2020. Dutch withholding tax will be deducted from the dividend at a rate of 15%.

Any determination to declare a future quarterly cash dividend, as well as the amount of any such cash dividend that may be declared, will be based on the Company's financial position, earnings, earnings outlook, capital expenditure plans, ongoing share repurchases, potential acquisition opportunities, and other relevant factors at the time.

Core Laboratories N.V. (www.corelab.com) is a leading provider of proprietary and patented reservoir description and production enhancement services and products used to optimize petroleum reservoir performance.  The Company has over 70 offices in more than 50 countries and is located in every major oil-producing province in the world.

This release, as well as other statements we make, includes forward-looking statements regarding the future revenue, profitability, business strategies and developments of the Company made in reliance upon the safe harbor provisions of Federal securities law.  The Company's outlook is subject to various important cautionary factors, including risks and uncertainties related to the oil and natural gas industry, business conditions, international markets, international political climates and other factors as more fully described in the Company's most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission.  These important factors could cause the Company's actual results to differ materially from those described in these forward-looking statements. Such statements are based on current expectations of the Company's performance and are subject to a variety of factors, some of which are not under the control of the Company.  Because the information herein is based solely on data currently available, and because it is subject to change as a result of changes in conditions over which the Company has no control or influence, such forward-looking statements should not be viewed as assurance regarding the Company's future performance.  The Company undertakes no obligation to publicly update or revise any forward-looking statement to reflect events or circumstances that may arise after the date of this press release, except as required by law.

Visit the Company's website at www.corelab.com. Connect with Core Lab on Facebook, LinkedIn and YouTube.

 

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SOURCE Core Laboratories N.V.

FAQ

What is the dividend amount for CLB in Q3 2020?

The dividend amount for CLB in Q3 2020 is $0.01 per share.

When will the CLB Q3 2020 dividend be paid?

The CLB Q3 2020 dividend will be paid on August 10, 2020.

What is the total dividend payout for CLB in 2020?

If maintained, the total dividend payout for CLB in 2020 will be $0.28 per share.

What factors determine future dividends for CLB?

Future dividends for CLB will depend on the Company's financial position, earnings outlook, and capital expenditure plans.

What is the withholding tax on CLB dividends?

A 15% Dutch withholding tax will be deducted from CLB dividends.