Bristow Group Inc. (NYSE: BRS), the leading provider of helicopter services to the offshore energy industry, announced today that its Board of Directors has declared a 33 percent increase in the company's dividend, resulting in a quarterly dividend of $0.20per share, up from $0.15 per share previously.
The dividend will be payable on June 15, 2012 to stockholders of record at the close of business on June 5, 2012 (the "Record Date"). There were 35,766,934 shares of Bristow's common stock issued and outstanding as ofMay 18, 2012.
"The Board's decision to increase our dividend demonstrates the confidence we have in the fundamental financial strength and future growth prospects of our business," said William E. Chiles, President and Chief Executive Officer ofBristow Group. "We expect to continue generating significant cash flow while maintaining prudent management of our balance sheet. The implementation of Bristow Value Added (BVA) has resulted in significant cash on hand and total liquidity in fiscal year 2012 which provides the basis for a balanced return for our shareholders."
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