HOUSTON, July 22 /PRNewswire-FirstCall/ -- BJ Services Company
(NYSE: BJS; PCX; CBOE) announced today that its Board of Directors has
approved a quarterly cash dividend in the amount of $.08 per share, payable
October 15, 2004 to shareholders of record at the close of business on
September 15, 2004. BJ Services, which has not previously paid a quarterly
dividend, now expects to pay its shareholders regular quarterly dividends of
$.08 per share.
Chairman and CEO Bill Stewart commented, "Although there is no assurance
the Company's Board of Directors will approve a quarterly dividend in the
future, the Board did today initiate a regular quarterly dividend of $.08 per
share. We believe our financial strength and strong cash flow generation
provides the Company with considerable flexibility to pay the dividend and not
compromise the Company's strategies to achieve growth through acquisition,
geographic expansion, capital equipment investment and technology
development."
This press release contains forward-looking statements, including
statements relating to the Company's intent to pay regular cash dividends in
future quarters. These forward-looking statements anticipate future
performance such as the Company's prospects, expected revenues, and expenses
and profits. These forward-looking statements are based on assumptions that
may prove to be inaccurate, and they are subject to risks and uncertainties
that may cause actual results to differ materially from expected results.
These risk factors include, without limitation, general global business and
economic conditions, drilling activity and rig count, pricing volatility for
oil and gas, reduction in demand for our services and products, risks from
operating hazards such as fire, explosion and oil spills, unexpected
litigation for which insurance and customer agreements do not provide complete
protection, changes in exchange rates and declines in the U.S. dollar, and
risks associated with our international operations, including potential
instability and hostilities. This list of risk factors is not intended to be
comprehensive. More extensive information concerning risk factors may be
found in the Company's public filings with the Securities and Exchange
Commission.
BJ Services Company is a leading provider of pressure pumping and other
oilfield services to the petroleum industry.
(NOT INTENDED FOR DISTRIBUTION TO BENEFICIAL OWNERS)
SOURCE BJ Services Company
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Related links:
http://www.bjservices.com
CONTACT:
Trey Whichard of BJ Services Company,
+1-713-462-4239
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