HOUSTON, July 20 /PRNewswire-FirstCall/ -- CARBO Ceramics
Inc. (NYSE: CRR), announced today that its Board of Directors has
approved an increase in the Company's quarterly dividend to
20 cents per common share, or
$0.80 per common share on an
annualized basis.
This represents an increase of 11% over the Company's previous
quarterly dividend and marks the tenth consecutive year the Company
has increased its dividend to shareholders. The dividend is
payable on August 16, 2010 to
shareholders of record as of August 2,
2010.
Gary Kolstad, Chief Executive
Officer and President of CARBO Ceramics, said, "Given the
confidence our Board of Directors has about our long-term outlook
and financial strength, it is fitting that the Company reward its
shareholders with an increase to the quarterly dividend
amount."
CARBO is the world's largest supplier of ceramic proppant, the
provider of the world's most popular fracture simulation software,
and a provider of fracture design and consulting services. The
Company also provides a broad range of technologies for spill
prevention, containment and countermeasures, along with
geotechnical monitoring.
The statements in this news release that are not historical
statements, including statements regarding our future financial and
operating performance, are forward-looking statements within the
meaning of the federal securities laws. All forward-looking
statements are based on management's current expectations and
estimates, which involve risks and uncertainties that could cause
actual results to differ materially from those expressed in
forward-looking statements. Among these factors are changes
in overall economic conditions, changes in demand for our products,
changes in the demand for, or price of, oil and natural gas, risks
of increased competition, technological, manufacturing and product
development risks, loss of key customers, changes in government
regulations, foreign and domestic political and legislative risks,
the risks of war and international and domestic terrorism, risks
associated with foreign operations and foreign currency exchange
rates and controls; weather-related risks and other risks and
uncertainties described in our publicly available filings with the
SEC. We assume no obligation to update forward-looking
statements, except as required by law.
SOURCE CARBO Ceramics Inc.