Mammoth Initiates Quarterly Cash Dividend
“Mammoth’s strong financial results and favorable outlook support an increased level of growth capex as well as some balanced return of capital to our stockholders,” said Arty Straehla, Chief Executive Officer. “The regular quarterly cash dividend provides benefit to Mammoth’s existing stockholders as well as broadening Mammoth’s exposure to additional income oriented investors. We are committed to creating long-term stockholder value, and developing a sustainable, diversified earnings platform to drive growth in fiscal 2018 and beyond.”
Future declarations of quarterly cash dividends are subject to approval by the Board of Directors and to the Board’s continuing determination that the declarations of dividends are in the best interests of Mammoth and its stockholders. Future dividends may be adjusted at the Board’s discretion based on market conditions and capital availability.
Mammoth is an integrated, growth-oriented company serving both the oil and gas and the electric utility industry in
Forward-Looking Statements and Cautionary Statements
This news release (and any oral statements made regarding the subjects of this release) contains certain statements and information that include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts that address activities, events or developments that Mammoth expects, believes or anticipates will or may occur in the future are forward-looking statements. The words “anticipate,” “believe,” “ensure,” “expect,” “if,” “intend,” “plan,” “estimate,” “project,” “forecasts,” “predict,” “outlook,” “aim,” “will,” “could,” “should,” “potential,” “would,” “may,” “probable,” “likely” and similar expressions, and the negative thereof, are intended to identify forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this news release may include statements, estimates and projections regarding Mammoth’s business outlook and plans, future financial position, liquidity and capital resources, operations, performance, including under Cobra’s utility infrastructure restoration and reconstruction contracts in
Investors are cautioned not to place undue reliance on any forward-looking statement which speaks only as of the date on which such statement is made. Mammoth undertakes no obligation to correct, revise or update any forward‑looking statement after the date such statement is made, whether as a result of new information, future events or otherwise, except as required by applicable law.
Source: Mammoth Energy Services, Inc.