Halliburton Dividend Declaration And Share Repurchase Program Increase
HOUSTON, Texas - Halliburton (NYSE: HAL) announced that its board of directors has declared a 2007 third quarter dividend of nine cents ($0.09) a share on the company’s common stock payable September 25, 2007, to shareholders of record at the close of business on September 3, 2007.
The board of directors also passed a resolution increasing the authorization of Halliburton’s common share repurchase program by an additional $2 billion. The share repurchase program does not require Halliburton to acquire any specific number of shares and may be terminated or suspended at any time. This additional authorization may be used for open market share purchases or to settle the conversion premium over the face amount of the company’s 3 1/8% convertible senior notes, should they be redeemed.
In February 2006, Halliburton’s board of directors authorized an initial $1 billion share repurchase program. In September 2006, the authorization was increased by an additional $2 billion. The further $2 billion increase announced today brings the aggregate authorization to $5 billion. As of July 10, 2007, Halliburton has repurchased under this authorization approximately 65.9 million shares at a total cost of $2.2 billion.
Founded in 1919, Halliburton is one of the world’s largest providers of products and services to the energy industry. With more than 45,000 employees in nearly 70 countries, the company serves the upstream oil and gas industry throughout the life cycle of the reservoir—from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field.
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