HOUSTON, July 21 /PRNewswire-FirstCall/ -- CARBO Ceramics Inc. , announced today that its Board of Directors has approved an increase in the Company's dividend, raising the quarterly dividend 6% to 18 cents per common share. The dividend is payable on August 17, 2009 to shareholders of record as of August 3, 2009.
Gary Kolstad, Chief Executive Officer and President of CARBO Ceramics, said, " This dividend increase once again reflects the Board of Directors' continued confidence in the long-term outlook for our business and in the company's ability to sustain its financial strength."
This dividend increase represents the ninth consecutive year the company increased its dividend to shareholders.
CARBO is the world's largest supplier of ceramic proppant, the provider of the world's most popular fracture simulation software, and a leading provider of fracture design and consulting services. The company also provides a broad range of technologies for geotechnical monitoring.
The statements in this news release that are not historical statements, including statements regarding our future financial and operating performance, are forward-looking statements within the meaning of the federal securities laws. All forward-looking statements are based on management's current expectations and estimates, which involve risks and uncertainties that could cause actual results to differ materially from those expressed in forward-looking statements. Among these factors are changes in overall economic conditions, changes in demand for our products, changes in the demand for, or price of, oil and natural gas, risks of increased competition, technological, manufacturing and product development risks, loss of key customers, changes in government regulations, foreign and domestic political and legislative risks, the risks of war and international and domestic terrorism, risks associated with foreign operations and foreign currency exchange rates and controls; weather-related risks and other risks and uncertainties described in our publicly available filings with the SEC. We assume no obligation to update forward-looking statements, except as required by law.
CARBO Ceramics Inc.
CONTACT: Ernesto Bautista, III, CFO of CARBO Ceramics Inc.,
+1-281-921-6400
Web Site: http://www.carboceramics.com/
