Calfrac Well Services Announces Dividend
Calfrac Well Services Ltd. is pleased to announce that its Board of Directors has declared a dividend pursuant to its quarterly dividend policy. The dividend of $0.25 per common share will be paid on April 15, 2014 to shareholders of record on March 31, 2014.
Calfrac’s Board of Directors has also determined to seek shareholder and regulatory approval for the implementation of a two-for-one share split of Calfrac’s issued and outstanding common shares. The share split will be considered by shareholders at the upcoming Annual and Special Meeting to be held on Thursday, May 8, 2014. Calfrac believes that having a greater number of shares will enhance liquidity and increase investor interest in Calfrac and its business.
The April 15th dividend payment will be unaffected by the proposed two-for-one share split. If the share split receives shareholder and regulatory approval, all subsequent dividends approved by Calfrac’s Board of Directors will reflect the two-for one share split.
Calfrac’s common shares are publicly traded on the Toronto Stock Exchange under the trading symbol “CFW”. Calfrac provides specialized oilfield services to exploration and production companies designed to increase the production of hydrocarbons from wells drilled throughout western Canada, the United States, Russia, Mexico, Colombia and Argentina.
