Halliburton Annual Meeting of Shareholders and Dividend Declaration
May 20 2020 - 6:45AM
Business Wire
Halliburton Company (NYSE: HAL) announced today that its board
of directors has declared a 2020 second quarter dividend of four
and one-half cents ($0.045) a share on the Company’s common stock
payable on June 24, 2020, to shareholders of record at the close of
business on June 3, 2020. The decision to set the quarterly
dividend at a lower level reflects the current market conditions
and uncertainties regarding the depth and duration of this
downturn.
Halliburton’s board of directors has also approved a 20 percent
voluntary reduction to their annual retainer. The board’s action
follows salary reductions already taken by the members of the
executive committee.
“Halliburton continues to take measures to strengthen our
liquidity and financial resilience under the current circumstances.
We implemented a $1 billion action plan to reduce overhead and
other costs, lowered capital expenditures roughly 50 percent from
2019 levels and accelerated the implementation of our North
American service delivery improvement strategy,” said Jeff Miller,
Halliburton chairman, president and chief executive officer.
“Today’s dividend announcement reflects our commitment in the near
term to deliver shareholder returns while maintaining a strong
liquidity position. The dividend supports our shareholder value
proposition by maintaining a reasonable payout as we navigate these
uncertain times. More importantly, it places the Company in a
strong position, financially and structurally, to take advantage of
the market’s eventual recovery.”
Halliburton shareholders elected all ten nominees to the board
of directors and ratified the selection of KPMG LLP as principal
independent public accountants for 2020 at the Company’s annual
meeting of shareholders held on May 19, 2020. The shareholders also
approved, on an advisory basis, the compensation of Halliburton's
named executive officers and the proposed amendment and restatement
of Halliburton’s Stock and Incentive Plan.
Shareholders elected board members Abdulaziz F. Al Khayyal,
William E. Albrecht, M. Katherine Banks, Alan M. Bennett, Milton
Carroll, Nance K. Dicciani, Murry S. Gerber, Patricia Hemingway
Hall, Robert A. Malone, and Jeffrey A. Miller.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest
providers of products and services to the energy industry. With
approximately 50,000 employees, representing 140 nationalities in
more than 80 countries, the company helps its customers maximize
value throughout the lifecycle of the reservoir – from locating
hydrocarbons and managing geological data, to drilling and
formation evaluation, well construction and completion, and
optimizing production throughout the life of the asset. Visit the
company’s website at www.halliburton.com. Connect with Halliburton
on Facebook, Twitter, LinkedIn, Instagram and YouTube.
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version on businesswire.com: https://www.businesswire.com/news/home/20200520005243/en/
For Investors: Abu Zeya Halliburton, Investor Relations
Investors@Halliburton.com 281-871-2688
For Media: Emily Mir Halliburton, Public Relations
PR@Halliburton.com 281-871-2601
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