Bristow Group Announces 25 Percent Dividend Increase
HOUSTON, May 21, 2013 /PRNewswire/ -- Bristow Group Inc. (NYSE: BRS), the leading provider of helicopter services to the offshore energy industry, announced today that its Board of Directors has approved a 25 percent increase in the company's dividend, resulting in a quarterly dividend of $0.25 per share, up from $0.20 per share previously.
The dividend will be payable on June 14, 2013 to stockholders of record at the close of business on May 31, 2013 (the "Record Date"). There were 36,151,310 shares of Bristow's common stock issued and outstanding as of April 30, 2013.
"The Board's decision to increase our quarterly dividend 33 percent in fiscal year 2013 and 25 percent this fiscal year reflects management's commitment to deliver a solid return to our shareholders," said William E. Chiles, President and Chief Executive Officer of Bristow Group. "Our dedication to growing our dividend is underpinned by the confidence we have in our cash flow generation and in the fundamental financial strength and future growth prospects of our business."
ABOUT BRISTOW GROUP INC.
Bristow Group Inc. (NYSE: BRS) is the leading provider of helicopter services to the worldwide offshore energy industry based on the number of aircraft operated and one of two helicopter service providers to the offshore energy industry with global operations. The Company has major transportation operations in the North Sea, Nigeria and the U.S. Gulf of Mexico, and in most of the other major offshore oil and gas producing regions of the world, including Alaska, Australia, Brazil, Canada, Russia and Trinidad. For more information, visit the Company's website at www.bristowgroup.com.
FORWARD-LOOKING STATEMENTS DISCLOSURE
Statements contained in this news release that state the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. These forward-looking statements include statements regarding shareholder return, cash flow generation, the fundamental financial strength and future growth prospects of the Company's business. It is important to note that the Company's actual results could differ materially from those projected in such forward-looking statements and may prevent the Company from continuing to pay a dividend and delivering a solid return to the Company's shareholders. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's SEC filings, including but not limited to the Company's annual report on Form 10-K for the fiscal year ended March 31, 2013. Bristow Group Inc. disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events or otherwise.
Bristow Group Inc.
SOURCE Bristow Group Inc.
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