HOUSTON, May 21, 2014 /PRNewswire/ --Bristow Group Inc. (NYSE: BRS), the leading provider of helicopter services to the offshore energy industry, announced today that its Board of Directors has approved a 28 percent increase in the company's dividend, resulting in a quarterly dividend of $0.32 per share, up from $0.25 per share previously.
The dividend will be payable on June 19, 2014 to stockholders of record at the close of business on June 5, 2014 (the "Record Date"). There were 35,585,384 shares of Bristow's common stock issued and outstanding as of May 16, 2014.
"We continued to generate strong operating cash flows in fiscal year 2014 that enabled us to make significant capital expenditures, record stock repurchases, and also increase our quarterly dividend for the third consecutive year and more than double it since initiation in fiscal year 2011," said William E. Chiles, President and Chief Executive Officer of Bristow Group. "These actions reflect our Board's confidence in our proven business model and future prospects and their commitment to deliver a balanced return to our shareholders."
ABOUT BRISTOW GROUP INC.
Bristow Group Inc. (NYSE: BRS) is the leading provider of helicopter services to the worldwide offshore energy industry based on the number of aircraft operated and one of two helicopter service providers to the offshore energy industry with global operations. The Company has major transportation operations in the North Sea, Nigeria and the U.S. Gulf of Mexico, and in most of the other major offshore oil and gas producing regions of the world, including Australia, Brazil, Canada, Russia and Trinidad. For more information, visit the Company's website at www.bristowgroup.com.
FORWARD-LOOKING STATEMENTS DISCLOSURE
Statements contained in this news release that state the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. These forward-looking statements include statements regarding shareholder return, payment of dividends, cash flow generation, the fundamental financial strength and future growth prospects of the Company's business. It is important to note that the Company's actual results could differ materially from those projected in such forward-looking statements and may prevent the Company from continuing to pay a dividend, repurchase shares and deliver a balanced return to the Company's shareholders. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's SEC filings, including but not limited to the Company's annual report on Form 10-K for the fiscal year ended March 31, 2014 Bristow Group Inc. disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events or otherwise.
Contact: | Linda McNeill |
Bristow Group Inc. | |
(713) 267-7622 |
SOURCE Bristow Group Inc.
