TULSA, Okla. (AP) -- Helmerich & Payne Inc. is more than doubling its quarterly dividend, the contract drilling company announced Monday.
The company declared a 15 cent-per-share dividend, which is up from its most recent dividend of 7 cents per share. The new dividend is payable on March 1 to shareholders of record as of Feb. 15.
Helmerich has delivered dividend increases annually for more than 40 years.
Shares of the Tulsa, Okla.-based company jumped $1.47, about 2.8 percent, to $54.12 in afternoon trading. Its shares have traded in a 52-week range of $38.71 to $68.60.