In a recent declaration by the Board of Directors of Helmerich & Payne (NYSE:HP), Inc., a quarterly cash dividend has been announced. The company, which is known for its operations in drilling oil and gas wells, stated on Wednesday that shareholders can expect to receive $0.25 per share.
This dividend is slated for distribution on February 28, 2025, with the record date set for February 14, 2025. Stockholders who are on the books at the close of business on the record date will be eligible for the dividend payout.
Helmerich & Payne, which is incorporated in Delaware and has its principal executive offices in Tulsa, Oklahoma, is listed on the New York Stock Exchange under the ticker symbol HP (NYSE:HPQ). The announcement of the dividend follows the company's established practice of delivering shareholder returns through regular dividend payments.
In other recent news, Helmerich & Payne reported a solid fiscal year with quarterly revenues of $694 million and net income of $0.76 per diluted share. Despite a 5% decline in the U.S. rig count, the company managed to increase its North America Solutions rig count to 151. In addition, Helmerich & Payne is in the process of acquiring KCA Deutag, a move expected to enhance its global presence and operational scale.
RBC Capital Markets adjusted its outlook on the company, revising the price target downward to $41 from $44, while maintaining a Sector Perform rating. The analyst at RBC Capital cited Helmerich & Payne's strategic focus and upcoming acquisition as reasons for the revision. However, the firm remains neutral until more information becomes available regarding the company's debt repayment plans following the KCA Deutag acquisition.
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