National Energy Services Reunited Declares First $0.10 Quarterly Dividend

National Energy Services Reunited Corp. (NESR) declared its first quarterly cash dividend of $0.10 per ordinary share, putting a capital return plan approved in May into effect.

The oilfield services company’s board approved the dividend Nov. 6, and the company announced it Nov. 9. The May plan also authorized up to $50 million in share repurchases.

The dividend announcement accompanied third-quarter results showing revenue of $504.7 million, up 70.9% from a year earlier. Non-GAAP earnings were $0.38 per share, $0.02 above estimates.

Shareholders of record as of the close of business Dec. 3 are scheduled to receive the dividend Dec. 10.