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%.