Tidewater Declares Quarterly Dividend on Common Stock

Tidewater Inc. (NYSE: TDW) announces that its board of directors declared a quarterly dividend of $.15 per share on Tidewater's approximately 57 million shares of common stock outstanding.

The dividend was declared today by action of the board and is payable May 6, 2004, to shareholders of record on April 26, 2004.

Tidewater Inc. owns and operates over 570 vessels, the world's largest fleet of vessels serving the global offshore energy industry.