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Gibson Energy Closes Acquisition of OMNI Energy for $445 Million, Boosts Dividend; Gibson Stocks Nearing Year Highs

Gibson Energy Inc. (GEI.TO) announced the acquisition of all of the issued and outstanding common stock of the parent holding company of OMNI Energy Services Corp. for US$445 million. OMNI is a privately held provider of environmental and production services to the oil and gas industry and is based in Carencro, Louisiana.

Gibson is also confirmed that it will increase its quarterly dividend rate to $0.26 per common share, representing a 4% increase from the prior quarterly rate and resulting in a new annualized dividend of $1.04 per common share.

GEI edged up by 1% to $23.05, moving closer to year high $23.50. Over 187,000 GEI shares have changed hands.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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