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UPDATE: Calfrac Wipes Out Earlier Gain; Board Approve Dividend Raise, Dividend Reinvestment Plan

Calfrac Well Services Ltd. (CFW.TO) has wiped out its earlier gains in the afternoon, edging off 1% to day low $26.47 from the $26.82 Wednesday close, as the company announce today that its Board of Directors has approved a 33% increase to its semi-annual dividend from $0.075 to $0.10 per share, increasing the annual dividend to $0.20 per common share.

Its Board of Directors has also approved a Dividend Reinvestment Plan, which will allow shareholders to direct that cash dividends paid on all or a portion of their common shares be reinvested in additional common shares.

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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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