An effort to bring the stock price higher? or is it a good deal for the company?
Liberty Oilfield Services Inc. (NYSE: LBRT) announced today that its Board of Directors has declared a quarterly cash dividend of $0.05 per share of Class A common stock, to be paid on March 20, 2019 to holders of record as of March 6, 2019. A distribution of $0.05 per unit has been approved for holders of units in Liberty Oilfield Services New HoldCo LLC, which will use the same record and payment date.
Future declarations of dividends are subject to approval by the Board of Directors and to the Board’s continuing determination that the declarations of dividends are in the best interests of Liberty and its stockholders. Future dividends may be adjusted at the Board’s discretion based on market conditions and capital availability.
Liberty also announced today that its Board of Directors has authorized the implementation of an additional share repurchase plan to repurchase shares of Liberty’s Class A common stock, par value $0.01 per share, in an amount not to exceed $100 million through January 31, 2021. This program is in addition to the $100 million share repurchase program previously announced by Liberty on September 10, 2018, which has been substantially completed.