Core Laboratories cuts dividend by 54.5 percent

Core Laboratories N.V. (CLB) will lower its quarterly dividend by 54.5%. The oil services company did not hike its dividend in the last four years.

The next dividend will be payable on Friday, 14 February 2020, to shareholders of record on Friday, 24 January 2020. In its press release the company states that Dutch withholding tax will be deducted from the dividend at a rate of 15%.

"This first quarter dividend would mean a total payout of $1.00 per share of common stock, if maintained for the entire year."

Core Laboratories N.V. is a provider of proprietary and patented reservoir description and production enhancement services and products used to optimize petroleum reservoir performance. The company is a limited liability company incorporated in the Netherlands and publicly traded in the United States on the New York Stock Exchange and in the Netherlands on the Euronext Amsterdam Stock Exchange.

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