RPC (RES) Posts Q3 EPS of $0.47, Tops Views; Announces Three-for-Two Stock Split; Increases Quarterly Dividend 16.7% to $0.07, Yields 1.1%

October 27, 2010 7:45 AM EDT
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RPC Inc (NYSE: RES) reports Q3 EPS of $0.47, 10 cents better than the analyst estimate of $0.37. Revenue for the quarter was $302.20 million, which compares to the estimate of $270.47million.

Their Board also announced a three-for-two split of the company's common shares. One additional share will be distributed for two shares held, with an effective date of December 10, 2010 to holders of record as of November 10, 2010.

The company also declared a $0.07 quarterly dividend, $0.28 annualized. The dividend is a 16.7% increase from the current rate of $0.06.

The dividend is payable December 10, 2010 to common stockholders of record at the close of business on November 10, 2010. The ex-dividend date is November 8, 2010.

Yield on the dividend is 1.2%.

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