ENERGY SERVICES OF AMERICA ANNOUNCES SPECIAL DIVIDEND

Rhea-AI Summary

Energy Services of America (Nasdaq: ESOA) has declared a special dividend of $0.05 per common share, payable on February 15, 2023, to shareholders of record as of January 31, 2023. This decision reflects the company's strong financial position and commitment to enhancing shareholder value, according to President Douglas Reynolds. Energy Services is engaged in various sectors, including natural gas and petroleum, employing over 1,000 people across the mid-Atlantic and Central U.S. regions.

Positive

• Declaration of a special dividend of $0.05 per share, rewarding shareholders.
• Demonstrates company's solid financial health and commitment to shareholder value.

Negative

• None.

HUNTINGTON, W.Va., Jan. 19, 2023 /PRNewswire/ -- Energy Services of America (the "Company" or "Energy Services") (Nasdaq: ESOA), announced that on January 18, 2023, the Company's board of directors declared a special dividend of $0.05 per common share payable on February 15, 2023 to shareholders of record as of January 31, 2023.

Douglas Reynolds, President, commented on the announcement.  "The Board of Directors of Energy Services would like to extend its appreciation to our shareholders as we continue to find ways to improve the Company and your return on investment.  We believe the announcement of this dividend shows our commitment to provide value to our shareholders based on our strong financial position." 

About Energy Services

Energy Services of America Corporation (NASDAQ: ESOA), headquartered in Huntington, WV, is a contractor and service company that operates primarily in the mid-Atlantic and Central regions of the United States and provides services to customers in the natural gas, petroleum, water distribution, automotive, chemical, and power industries. Energy Services employs 1,000+ employees on a regular basis. The Company's core values are safety, quality, and production.  

Certain statements contained in the release including, without limitation, the words "believes," "anticipates," "intends," "expects" or words of similar import, constitute "forward-looking statements" within the meaning of section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements of the Company expressed or implied by such forward-looking statements. Such factors include, among others, general economic and business conditions, changes in business strategy or development plans, the effect of the COVID-19 pandemic, the integration of acquired business and other factors referenced in this release. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.

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SOURCE Energy Services of America

FAQ

What is the dividend amount declared by ESOA?

Energy Services of America announced a special dividend of $0.05 per share.

When is the dividend payable for ESOA?

The dividend is payable on February 15, 2023.

Who is eligible for the ESOA dividend?

Shareholders of record as of January 31, 2023, are eligible.

What does the special dividend indicate about ESOA's financial health?

The special dividend reflects ESOA's strong financial position and commitment to returning value to shareholders.