Halliburton Increases New Repurchase Capacity To $5 Bln; Declares Q3 Dividend

(RTTNews) - Halliburton (HAL.F, HAL.TO, HAL), a provider of products and services to the energy industry, Monday said that after the company purchased 23 million shares of common stock for $1 billion during the second quarter, $0.7 billion of repurchase capacity remained under a program authorized by the Board. On July 18, Halliburton's board increased the authorization by $4.3 billion, to a new total repurchase capacity of $5 billion.

Further, the company proposed a third-quarter dividend of $0.125 per share payable on September 25, to shareholders of record on September 4. Halliburton reiterated its intention to distribute total annual dividends of at least 15-20 percent of net income.

"...Today's announcement, together with the 39% increase in dividends announced in the first quarter, reflects our growing confidence in the strength of our business outlook," said Dave Lesar, chairman, president and chief executive officer.