Tidewater declares dividendCompany News // May 19, 2014
Tidewater has announced that on 15 May its Board of Directors declared a quarterly cash dividend of US$0.25 per share of common stock to shareholders of record on 6 June 2014.
Tidewater also announced today that its Board of Directors has authorized a new programme for the company to spend up to US$200 million, effective July 1, 2014 and through June 30, 2015, to repurchase shares of its common stock in open-market or privately-negotiated transactions.
The company’s exisiting US$200 million repurchase authorization will continue in effect through June 30, 2014, and, through May 15, 2014 - no common shares have been purchased by the company under this current programme. If shares are purchased pursuant to the current or new programme, the company will use its available cash and/or borrowings under its revolving credit facility or other borrowings to fund any share repurchases.
The company will continue to evaluate share repurchase opportunities relative to other investment opportunities and in the context of current conditions in the credit and capital markets.