Halliburton, Schlumberger Increase Dividend

Both Halliburton and Schlumberger announced notable dividend increases in their latest financial statements.

Halliburton’s board of directors declared a 2023 first quarter dividend of sixteen cents ($0.16) per share on the company’s common stock payable on March 29, 2023, which the organization highlighted was a 33 percent increase.

Schlumberger’s board of directors approved a 43 percent increase in the company’s quarterly cash dividend from $0.175 per share of outstanding common stock to $0.25 per share, beginning with the dividend payable on April 6, 2023.

“I am pleased to announce that our board has adopted a capital returns framework and an increase in our dividend to sixteen cents per share beginning this quarter,” Jeff Miller, the Chairman, President and CEO of Halliburton said in the company’s latest results statement.

“This capital returns framework, our dividend increase, and the share buy backs we made during the fourth quarter demonstrate Halliburton’s confidence in our business, customers, employees, and value proposition,” he added.

In Schlumberger’s latest results announcement, the company’s CEO Olivier Le Peuch said, “finally, we initiated increased returns to shareholders, demonstrating confidence in our strategy, our financial outperformance, and our commitment to superior returns”.

“We increased our dividend by 40 percent in April 2022, followed by a further 43 percent increase today [January 20], and we resumed our share buyback program this month,” he added.

Income, Revenue

Halliburton announced net income of $656 million, or $0.72 per diluted share, for the fourth quarter of 2022, which compared to net income for the third quarter of 2022 of $544 million, or $0.60 per diluted share. The company’s total revenue for the fourth quarter of 2022 was $5.6 billion, compared to total revenue of $5.4 billion in the third quarter of 2022. Operating income was $976 million in the fourth quarter of 2022 compared to operating income of $846 million in the third quarter of 2022.

Halliburton’s total revenue for the full year of 2022 was $20.3 billion, which marked an increase of $5.0 billion, or 33 percent from 2021. Operating income for 2022 was $2.7 billion, compared to operating income of $1.8 billion for 2021.

Schlumberger reported net income of $1.06 billion in the fourth quarter of last year, compared to $907 million in the third quarter. Total revenue for the fourth quarter was said to be $7.87 billion, compared to $7.47 billion in the third quarter, and pretax segment operating income was $1.55 billion in the fourth quarter, compared to $1.4 billion in the third quarter.

The company’s total revenue for the full year of 2022 was $28.1 billion, which marked an increase of 23 percent year on year. Full-year net income came in at $3.4 billion in 2022, which was an 83 percent increase year on year.

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