HOUSTON, July 16, 2013 /PRNewswire/ -- The Board of Directors of CARBO Ceramics Inc. (NYSE: CRR) today approved an increase in the Company's quarterly dividend to 30 cents per common share, or $1.20 per common share on an annualized basis.
This represents an increase of 11 percent over the Company's previous quarterly dividend and marks the thirteenth consecutive year the Company has increased its dividend to shareholders. The dividend is payable on August 15, 2013 to shareholders of record as of August 1, 2013.
In commenting on the dividend increase, Gary Kolstad, Chief Executive Officer, said, "The increase by the Board of Directors reflects their confidence in the long-term prospects for CARBO and highlights a focus on delivering value for our shareholders."
CARBO (NYSE: CRR) is an oilfield services technology company providing industry-leading products and services for:
- Production enhancement solutions – increasing production and reserves (EUR), by integrating technologies and intellectual capital to design, build and optimize the frac
- Environmental solutions – spill prevention and containment
The Company enhances oil and natural gas well production and recovery by providing technology products and services to design, build, and optimize fracs. The Company has the industry-leading fracture simulation software, is the world's largest producer of ceramic proppant, has proprietary technology it applies to proppant to aid in fracture diagnostics and production assurance, and provides consulting services for fracture and completion optimization. The Company also provides a range of technology solutions for spill prevention, containment and countermeasures.
SOURCE CARBO Ceramics Inc.