Superior Energy Eliminates Dividend
March 31 (Reuters) - Oilfield services provider Superior Energy Services Inc said it approved the elimination of its quarterly dividend as it looks to shore up its finances amid a prolonged oil price slump that has severely reduced spending by oil producers.
The company's executive officers have all taken reduced base salaries, Chief Executive David Dunlap said in a statement on Thursday.
The company had been paying a quarterly dividend of 8 cents per share until last month.
(Reporting by Amrutha Gayathri in Bengaluru; Editing by Shounak Dasgupta)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Weatherford CEO's Rebound Plan Relies On Getting Smaller
- Iran Says Oil Market Is Too Tight For US Zero Exports Target
- China's Squeezed 'Teapots' Eye Petchem Path To Riches
- Baker Hughes: US Drillers Add Oil Rigs For Second Week In Three
- Venezuela Hands China More Oil Presence, But No Mention Of New Funds