RES Buyback

RPC, Inc. Buyback

OLI recorded this information on 4/26/2023

Company:

RPC, Inc.

Buyback:

RES buyback

Share Amount Authorized:

15,115,820

Buyback Details:

RPC, Inc. (NYSE: RES) announced today that on April 25, 2023 its Board of Directors declared a $0.04 per share regular quarterly cash dividend payable June 9, 2023 to common stockholders of record at the close of business on May 10, 2023. Additionally, the Board of Directors approved an increase of 8.0 million shares to the number of shares authorized for repurchase under the company's stock buyback program for a total remaining available for repurchase of 15,115,820 shares. This authorization is part of a broader capital allocation framework to deliver value to shareholders by returning excess cash to shareholders through share repurchases and dividends. The company's stock buyback program does not have a predetermined expiration date. Repurchases of shares of the company's common stock may be made from time to time in the open market, by block purchases, in privately negotiated transactions or in such other manner as determined by the company. The timing of the repurchases and the actual amount repurchased will depend on a variety of factors, including the market price of the company's shares, general market and economic conditions, and other factors. The stock repurchase program does not obligate the company to acquire any particular amount of common stock, and it may be suspended or discontinued at any time. The company does not expect to incur debt to fund the share repurchase program.

RPC is a holding company for several oilfield services companies. Co.'s Technical Services include its oil and gas services that utilize people and equipment to perform completion, production and maintenance services directly to a customer's well. This operating segment consists of pressure pumping, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline and fishing. Co.'s Support Services include services that provide equipment provided off the well site without Co.'s personnel and services. The equipment and services include rental tools, drill pipe and related tools, pipe handling, pipe inspection and storage services, and oilfield training and consulting services.

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RES — Key Stats (updated 7 hours, 6 minutes ago)

Company Name:	RPC, Inc.
Stock buyback:	RES buyback
Website:	www.rpc.net
Sector:	Oil & Gas Equipment & Services
Number of ETFs Holding RES:	50
Total Market Value Held by ETFs:	$206.47M
Total Market Capitalization:	$1.73B
% of Market Cap. Held by ETFs:	11.93%

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RPC, Inc. Buyback

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