Helmerich Payne (HP) Raises Quarterly Dividend 10% to $0.6875; 2.5% Yield

June 4, 2014 1:26 PM EDT

Helmerich Payne (NYSE: HP) declared a quarterly dividend of $0.6875 per share, or $2.75 annualized. This is a 10% increase from the prior dividend of $0.625.

The dividend will be payable on September 2, 2014, to stockholders of record on August 15, 2013, with an ex-dividend date of August 13, 2013.

The annual yield on the dividend is 2.5 percent.

The Company also announced today that it has entered into agreements with five exploration and production companies to build and operate nine additional FlexRigs in the U.S. All of these rigs are under multi-year term contracts and expected to generate attractive economic returns for the Company. This brings the total number of new build commitments announced in fiscal 2014 to 53 new FlexRigs.

For a dividend history and other dividend-related data on Helmerich Payne (HP) click here.

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