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Halliburton Repurchases $1B in Common Stock

Halliburton reported that during the second quarter, the company purchased 23 million shares of common stock at a total cost of $1.0 billion.

This significant repurchase activity left $0.7 billion of repurchase capacity remaining under a program initially authorized by Halliburton’s board of directors in 2006.

On July 18, 2013, Halliburton’s board of directors increased the authorization to purchase Halliburton common stock by $4.3 billion, to a new total repurchase capacity of $5.0 billion.

"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. “We believe that our relentless focus on generating best-in-class returns and our commitment to shareholder distributions will deliver increased value to our shareholders going forward."

Halliburton’s board of directors also declared a 2013 third quarter dividend of twelve and one-half cents ($0.125) a share on the company’s common stock payable September 25, 2013 to shareholders of record at the close of business on September 4, 2013. The company also reaffirmed Halliburton’s intention to distribute total annual dividends of at least 15-20% of net income.

Announced Date
July 22,2013
Value  ( $MM )
Buy Back
Use of Fund
General Purpose
United States
United States