Halliburton Increases Quarterly Dividend By 20 Percent; Announces 2:1 Stock Split And $1 Billion Share Repurchase Program
HOUSTON, Texas – Halliburton (NYSE: HAL) announced that its Board of Directors has approved a 20% increase in the company’s quarterly dividend and declared a first quarter dividend of fifteen cents ($.15) a share on the company’s common stock payable March 23, 2006, to shareholders of record at the close of business on March 2, 2006.
The Board of Directors also approved a 2:1 stock split, subject to shareholder approval at the 2006 annual meeting of shareholders, of a proposal to increase the number of authorized shares of common stock from one billion shares to two billion shares. Each shareholder would receive one additional share for each outstanding share held by the shareholder on the record date for the stock split. The record date will be announced after the approval of the increase in authorized shares of common stock.
Halliburton has also been authorized by its Board of Directors to repurchase up to $1 billion of its outstanding common shares. The stock repurchase program does not require Halliburton to acquire any specific number of shares. This program may be effected through solicited or unsolicited transactions in the market or in privately negotiated transactions, and may be terminated or suspended at any time.
Halliburton, founded in 1919, is one of the world’s largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and KBR. The company’s World Wide Web site can be accessed at www.halliburton.com.
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