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Hunting Withdraws Resolution For Approving Final Dividend Payout
(Alliance News) - Hunting PLC said Thursday it has withdrawn its resolution seeking shareholder approval for paying a final dividend of 6.0 US cents per share, due the recent unravelling of the global economy.
The energy services provider was initially intending to propose the dividend payout at its upcoming annual general meeting on April 15.
Instead, Hunting will pay an interim dividend of 3.0 cents per share, which absorb around USD5.0 million in costs. Hunting already had paid a first interim dividend of USD5.0 cents for 2019.
"In light of current global economic conditions, including the decline in the price of crude oil and the likely impact of the coronavirus on the short-term demand for oil and gas, the board has implemented measures to conserve cash and limit capital outflows," the group said.
Hunting will publish a trading update on the same date as the general meeting.
Shares in Hunting were up 2.4% at 187.30 pence on Friday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Latest HTG News
- LONDON MARKET MIDDAY: Stocks down as oil decline hits energy stocks
26 Jun 2026 - WINNERS & LOSERS: Housebuilders, airlines fall on Middle East flare-up
8 Jun 2026 - IN BRIEF: Hunting Chief Executive Johnson to step down
1 Jun 2026 - Hunting chief executive to retire after a decade in the role
1 Jun 2026 - TRADING UPDATES: Prospex gas sales rise, expects cash to increase
15 May 2026 - WINNERS & LOSERS: Helios Towers raises outlook after "strong" quarter
7 May 2026 - IN BRIEF: Hunting executive sells over GBP250,000 in shares
6 May 2026 - LONDON MARKET MIDDAY: US and Iran reportedly closer to peace deal
6 May 2026
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