ATLANTA, April 29, 2015 /PRNewswire/ -- RPC, Inc. (NYSE: RES) announced today that its Board of Directors reduced the quarterly cash dividend from $0.105 per share to $0.05 per share. The dividend will be payable June 10, 2015 to common stockholders of record at the close of business on May 8, 2015. This reduced dividend strengthens our capital structure and enhances our ability to maintain a conservative balance sheet.
RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC's investor website can be found at www.rpc.net.
For information about RPC, Inc. or this event, please contact:
Chief Financial Officer
Vice President, Corporate Finance
SOURCE RPC, Inc.