C&J Energy to pay special dividend of $1 a share [MarketWatch]
C&J ENERGY SERVICES INC (CJ)
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Source: MarketWatch
C&J Energy to pay special dividend of $1 a share C&J Energy Services Inc. CJ, +1.00% said Friday it will pay a special cash dividend of $1.00 a share. The dividend will be paid on a yet undetermined date to shareholders of record on Oct. 18. C&J currently does not pay a regular dividend on its common stock. The dividend announcement comes after the well construction company announced in June that it was merging with Keane Group Inc . FRAC, +1.80% to create a diversified oilfield services company with a combined enterprise value of $18 billion, including debt. C&J's stock has lost 25% and Keane shares have shed 31% year to date, while the VanEck Vectors Oil Services ETF OIH, +1.71% has dropped 20% and the S&P 500 SPX, +0.80% has gained 16%.
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