Shares of RPC Inc. RES were indicated up about 4% in premarket trading Wednesday, after the oilfield services company doubled its dividend and beat fourth-quarter profit and revenue expectations. The quarterly dividend was raised to 4 cents a share from 2 cents. Based on Tuesday’s stock closing price of $8.59, the new annual dividend rate implies a dividend yield of 1.86%, which compares with the yield for the VanEck Oil Services ETF OIH of 0.
RES were indicated up about 4% in premarket trading Wednesday, after the oilfield services company doubled its dividend and beat fourth-quarter profit and revenue expectations. The quarterly dividend was raised to 4 cents a share from 2 cents. Based on Tuesday’s stock closing price of $8.59, the new annual dividend rate implies a dividend yield of 1.86%, which compares with the yield for the VanEck Oil Services ETF OIH of 0.91% and the implied yield for the S&P 500 SPX of 1.68%.