Baker Hughes Buyback
OLI recorded this information on 10/27/2022
Company: |
Baker Hughes |
Buyback: |
BKR buyback |
$Amount Authorized: |
$4,000,000,000 |
Buyback Details: |
Baker Hughes (NASDAQ: BKR) announced today that the Baker Hughes Board of Directors declared an increased quarterly cash dividend of $.19 per share of Class A common stock payable on November 18, 2022, to holders of record on November 7, 2022. The dividend increase reflects a 5.5% growth rate, or $.01, over the previous quarter's dividend. Baker Hughes also announced today that its Board of Directors authorized Baker Hughes Holdings LLC ("BHH LLC") to repurchase up to $2 billion of additional common units, increasing its existing share repurchase authorization, which was announced in July 2021, by $2 billion to $4 billion. The Company will use the proceeds from the sale of its BHH LLC common units to repurchase its Class A shares. Baker Hughes has repurchased approximately $1.2 billion of Class A shares under the current share repurchase authorization as of September 30, 2022. |
Baker Hughes is a holding company. Through its subsidiaries, Co. is an energy technology company. Co. has four segments: Oilfield Services, which provides products and services, as well as integrated well services for onshore and offshore operations across the lifecycle of a well; Oilfield Equipment, which provides a portfolio of products and services required to facilitate the safe and reliable control and flow of hydrocarbons from the wellhead to the production facilities; Turbomachinery and Process Solutions, which provides technology solutions and services across the energy industry; and Digital Solutions, which provides equipment, software, and services for a range of industries.
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