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Oct. 4, 2019, 7:12 a.m. EDT

C&J Energy to pay special dividend of $1 a share

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By Tomi Kilgore

C&J Energy Services Inc. 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. 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 /zigman2/quotes/207596637/composite OIH -1.70% has dropped 20% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.51% has gained 16%.

/zigman2/quotes/207596637/composite
US : U.S.: NYSE Arca
$ 4.04
-0.07 -1.70%
Volume: 10.96M
April 3, 2020 8:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
2,488.65
-38.25 -1.51%
Volume: 3.59B
April 3, 2020 5:10p
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