Cactus Announces Quarterly Cash Dividend Increase

Rhea-AI Summary

Cactus, Inc. (NYSE: WHD) has announced a quarterly cash dividend increase of $0.11 per share of Class A common stock, marking a 10% rise. The dividend will be paid on March 17, 2022, to shareholders of record as of the close of business on February 28, 2022. This reflects the company's strong financial position, bolstered by a robust balance sheet and substantial free cash flow generation, allowing it to continue returning capital to shareholders.

Positive

• 10% increase in quarterly cash dividend to $0.11 per share.
• Dividend reflects strong financial stability with robust balance sheet.
• Company's ability to generate free cash flow supports shareholder returns.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Cactus, Inc. (NYSE: WHD) (“Cactus”) today announced that its Board of Directors approved an increase in the quarterly cash dividend to $0.11 per share of Class A common stock with payment to occur on March 17, 2022 to holders of record of Class A common stock at the close of business on February 28, 2022. A corresponding distribution of up to $0.11 per CW Unit has also been approved for holders of CW Units of Cactus Wellhead, LLC.

Scott Bender, President and Chief Executive Officer of Cactus, commented, “I am pleased to announce that our board has authorized a 10% increase to the regular quarterly cash dividend. We remain well positioned to return capital to shareholders due to our fortress balance sheet and ability to generate free cash flow.”

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. Cactus also conducts rental and service operations in the Kingdom of Saudi Arabia.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220127005402/en/

Cactus, Inc.

John Fitzgerald, 713-904-4655

Director of Corporate Development and Investor Relations

IR@CactusWHD.com

Source: Cactus, Inc.

FAQ

What is the new dividend amount for WHD?

Cactus, Inc. has increased its quarterly cash dividend to $0.11 per share.

When will the dividend for WHD be paid?

The dividend will be paid on March 17, 2022.

Who qualifies for the WHD dividend?

Shareholders of record as of February 28, 2022, will qualify for the dividend.

Is the WHD dividend sustainable?

The increase reflects Cactus's strong financial position and ability to generate free cash flow, indicating sustainability.