Cactus Announces Quarterly Cash Dividend

Rhea-AI Summary

Cactus, Inc. (NYSE: WHD) has announced a cash dividend of $0.09 per share of Class A common stock, payable on March 18, 2021, to stockholders on record as of March 1, 2021. A corresponding distribution of $0.09 per CW Unit has also been approved for holders of CW Units. Future dividends and amounts will require Board approval. Cactus specializes in highly engineered wellhead and pressure control equipment, serving onshore unconventional oil and gas wells across key U.S. regions and in Eastern Australia.

Positive

• Approval of a cash dividend of $0.09 per share enhances shareholder returns.
• Strong operational presence in key oil and gas regions boosts market confidence.

Negative

• None.

Cactus, Inc. (NYSE: WHD) (“Cactus”) today announced that its Board of Directors has approved the payment of a cash dividend of $0.09 per share of Class A common stock to be paid on March 18, 2021 to holders of record of Class A common stock at the close of business on March 1, 2021. A corresponding distribution of up to $0.09 per CW Unit has also been approved for holders of CW Units of Cactus Wellhead, LLC.

Declarations of any dividends in the future, and the amount of any such dividends, are subject to approval by Cactus’ Board of Directors.

About Cactus, Inc.

Cactus designs, manufactures, sells and rents a range of highly engineered wellhead and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus operates service centers in the United States, which are strategically located in the key oil and gas producing regions, including the Permian, SCOOP/STACK, Marcellus, Utica, Haynesville, Eagle Ford and Bakken, among other areas, and in Eastern Australia.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210121005933/en/

FAQ

What is the dividend amount for Cactus, Inc. (WHD)?

Cactus, Inc. has declared a dividend of $0.09 per share.

When is the dividend payment date for Cactus, Inc. (WHD)?

The dividend is payable on March 18, 2021.

Who qualifies for the dividend from Cactus, Inc. (WHD)?

Holders of Class A common stock recorded as of March 1, 2021, are eligible.

What is the significance of the dividend for Cactus, Inc. (WHD) shareholders?

The dividend represents a direct return of capital to shareholders, indicating financial health.

Are future dividends guaranteed for Cactus, Inc. (WHD)?

Future dividends are subject to approval by Cactus’ Board of Directors.