Annual report pursuant to Section 13 and 15(d)

Dividends and Earnings (Loss) Per Share

v3.19.3.a.u2
Dividends and Earnings (Loss) Per Share
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Stockholder's Equity and Earnings (Loss) Per Share
Dividends and Earnings (Loss) Per Share
Dividends

On July 16, 2018, the Company initiated a quarterly dividend policy. As a result of oilfield market conditions and other factors, which include collections from PREPA, the Company's Board of Directors suspended the quarterly cash dividend in the third quarter of 2019. The table below summarizes the dividends paid on the Company's common stock.

 
Per Share
 
Total
 
 
 
(in thousands)
2019
 
 
 
Paid on February 14, 2019
$
0.125

 
$
5,609

Paid on May 17, 2019
0.125

 
5,610

Total cash dividends
$
0.25

 
$
11,219

2018
 
 
 
Paid on August 14, 2018
$
0.125

 
$
5,595

Paid on November 15, 2018
0.125

 
5,606

Total cash dividends
$
0.25

 
$
11,201



Earnings (Loss) Per Share
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
 
 
(in thousands, except per share data)
Basic (loss) earnings per share:
 
 
 
 
 
 
Allocation of earnings:
 
 
 
 
 
 
Net (loss) income
 
$
(79,044
)
 
$
235,965

 
$
58,964

Weighted average common shares outstanding
 
45,011

 
44,750

 
41,548

Basic (loss) earnings per share
 
$
(1.76
)
 
$
5.27

 
$
1.42

 
 
 
 
 
 
 
Diluted (loss) earnings per share:
 
 
 
 
 
 
Allocation of earnings:
 
 
 
 
 
 
Net (loss) income
 
$
(79,044
)
 
$
235,965

 
$
58,964

Weighted average common shares, including dilutive effect (a)
 
45,011

 
45,021

 
41,639

Diluted (loss) earnings per share
 
$
(1.76
)
 
$
5.24

 
$
1.42

a.
No incremental shares of potentially dilutive restricted stock awards were included for the year ended December 31, 2019 as their effect was antidilutive under the treasury stock method.