RPC, Inc. Announces Increase of 2 Cents Per Share to Regular Quarterly Cash Dividend

Rhea-AI Summary

RPC, Inc. (NYSE: RES) announced a quarterly cash dividend increase from $0.02 to $0.04 per share. The increased dividend will be payable on March 10, 2023, to stockholders of record as of February 10, 2023. This decision reflects the company's ongoing commitment to returning value to its shareholders. RPC specializes in providing essential oilfield services and equipment primarily to oilfield companies across the United States, including regions like the Gulf of Mexico and the Rocky Mountains.

Positive

• Increased quarterly dividend from $0.02 to $0.04 per share
• Demonstrates commitment to shareholder returns

Negative

• None.

ATLANTA, Jan. 25, 2023 /PRNewswire/ -- RPC, Inc. (NYSE: RES) announced today that its Board of Directors declared a $ 0.02 per share increase to the regular quarterly cash dividend from $ 0.02 per share to $ 0.04 per share payable March 10, 2023 to common stockholders of record at the close of business on February 10, 2023.

RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets.  RPC's investor website can be found on the internet at RPC.net.

For information about RPC, Inc. or this event, please contact:

Michael L. Schmit
Chief Financial Officer
(404) 321-2140
irdept@rpc.net

Jim Landers
Vice President Corporate Services
(404) 321-2162
jlanders@rpc.net

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SOURCE RPC, Inc.

FAQ

What is the new dividend amount for RPC, Inc. (RES)?

RPC, Inc. has increased its quarterly dividend to $0.04 per share.

When will the new dividend be paid?

The new dividend will be payable on March 10, 2023.

What is the record date for the dividend?

The record date for the dividend is February 10, 2023.

How often does RPC, Inc. pay dividends?

RPC, Inc. pays dividends on a quarterly basis.

Is the dividend sustainable for RPC, Inc.?

The increase in dividend suggests confidence in financial stability, but ongoing performance should be monitored.