CARBO Ceramics – CRR – Increase in the Company’s quarterly dividend
CARBO Ceramics Inc. (NYSE: CRR) announced that its Board of Directors has approved an increase in the Company’s quarterly dividend to 27 cents per common share, or $1.08 per common share on an annualized basis.
This represents an increase of 13% over the Company’s previous quarterly dividend and marks the twelfth consecutive year the Company has increased its dividend to shareholders. The dividend is payable on August 15, 2012 to shareholders of record as of August 1, 2012.
In commenting on the 13% dividend increase, Gary Kolstad, Chief Executive Officer, said, “I am pleased that CARBO’s strong balance sheet provides us the opportunity to pay dividends to shareholders while executing on our long term growth plans. The decision to increase our dividend for the twelfth consecutive year demonstrates a continued confidence in our long term cash flow outlook.”
CARBO is the world’s largest supplier of ceramic proppant for fracturing oil and gas wells, and a supplier of resin-coated sand proppant; the provider of the world’s most widely used fracture simulation software; and a provider of fracture design and consulting services. The Company also provides a broad range of technologies for spill prevention, containment and countermeasures, along with geotechnical monitoring.
About CARBO Ceramics – CRR
CARBO Ceramics Inc.(CRR), is a supplier of ceramic proppant. CRR is a provider of software, and consulting services, spill prevention, containment and geotechnical monitoring. CRR sells its products and services to operators of oil and natural gas wells and to oilfield service companies. The Company’s products and services are primarily used in the hydraulic fracturing of natural gas and oil wells.
CRR primarily manufactures five ceramic proppants. CARBOHSP and CARBOPROP are proppants designed primarily for use in deep oil and gas wells. CARBOHSP ceramic proppants manufactured by the Company is used primarily in the fracturing of deep oil and gas wells. CARBOLITE, CARBOECONOPROP and CARBOHYDROPROP are lightweight ceramic proppants. CARBOLITE is used in medium depth oil and gas wells. During the year ended December 31, 2011, the Company generated approximately 79% of its revenues in the United States and 21% in international markets.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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