HOUSTON, Feb. 8, 2016 /PRNewswire/ -- Bristow Group
Inc. (NYSE: BRS), the leading provider of helicopter services to
the offshore energy industry, announced today that its Board of
Directors approved a $0.07 per share
quarterly dividend, which compares to $0.34 per share in the prior quarter.
The dividend will be payable on March 15,
2016 to stockholders of record at the close of business on
March 1, 2016 (the "Record
Date"). There were 34,951,725 shares of Bristow's common
stock issued and outstanding as of February
4, 2016.
Jonathan E. Baliff, President and
Chief Executive Officer of Bristow Group, said, "This decision by
the Board of Directors is a prudent step designed to enhance our
competitive position in this challenging commercial environment.
The reduction in the dividend coupled with our improved liquidity
from the previously announced $200
million term loan and capex reductions and deferrals
provides us with greater financial flexibility to weather this
severe cyclical downturn and capitalize on potential
opportunities."
ABOUT BRISTOW GROUP INC.
Bristow Group Inc. (NYSE: BRS) is the leading provider of
helicopter services to the worldwide offshore energy industry based
on the number of aircraft operated and one of two helicopter
service providers to the offshore energy industry with global
operations. The Company has major transportation operations in the
North Sea, Nigeria and the U.S.
Gulf of Mexico, and in most of the
other major offshore oil and gas producing regions of the world,
including Australia, Brazil, Canada, Russia and Trinidad. For more information, visit the
Company's website at www.bristowgroup.com.
FORWARD-LOOKING STATEMENTS DISCLOSURE
Statements contained in this news release that state the
Company's or management's intentions, hopes, beliefs, expectations
or predictions of the future are forward-looking statements. These
forward-looking statements include statements regarding future
dividend payments. It is important to note that the Company's
actual results could differ materially from those projected in such
forward-looking statements and may prevent the Company from
continuing to pay a dividend and delivering a solid return to the
Company's shareholders. Additional information concerning factors
that could cause actual results to differ materially from those in
the forward-looking statements is contained from time to time in
the Company's SEC filings, including but not limited to the
Company's annual report on Form 10-K for the fiscal year ended
March 31, 2015. Bristow Group Inc.
disclaims any intention or obligation to revise any forward-looking
statements, including financial estimates, whether as a result of
new information, future events or otherwise.
Contact:
|
Linda
McNeill
|
|
Bristow Group
Inc.
|
|
(713)
267-7622
|
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SOURCE Bristow Group Inc.