Helmerich and Payne pays special dividend
On October 19, 2022, Helmerich & Payne Inc (HP) announced that it will pay a special dividend of $0.235 per share. The regular quarterly dividend for HP is $0.25 per share. The Company has established its 2023 supplemental shareholder return plan, which is currently projected to provide approximately $100 million in additional cash returns to shareholders in the form of additional dividends. These supplemental dividends are expected to be paid in four, approximately equal, installments during fiscal 2023. These additional cash returns represent approximately 50% of the Company’s projected cash flow generation in fiscal 2023 after planned capital expenditures and after the Company’s already established “base” annual dividend of $1.00/share, which is roughly $110 million on an annualized basis. All such established base and supplemental dividends are subject to the determination and approval of the Company’s Board of Directors on a quarterly basis. Under the plan, the Company may uti...