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Stock Market & Financial Investment News

News Breaks
January 9, 2013
15:41 EDTTDWTidewater, Sonangol extend joint venture pact to allow talks to continue
Tidewater (TDW) disclosed in a regulatory filing that it has agreed to extend the term of its current joint venture agreement with partner Sonangol Holdings to March 31, 2013, to allow for discussions on a new long-term joint venture agreement to continue. Tidewater said it remains hopeful that a new joint venture agreement will be agreed between the parties that will put Sonatide, its Angola joint venture, on a more secure and permanent footing. As there are significant issues on which the parties have yet to reach an agreement, no assurance can be given that such an outcome will be achieved, Tidewater cautioned in the filing.
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February 3, 2016
11:36 EDTTDWTidewater says unable to provide guidance due to market volatility
Says has not purchased any shares in 2016 from 2015 authorization. Says delivering shareholder value through efficient operations and attempts to grow market share. Says not giving guidance due to limited ability provided to do so, as well as market volatility and oil price volatility. Says will get "our share" of revenue "out there." Comments taken from Q3 earnings conference call. In morning trading, Tidewater shares gained 4.29% to $4.62.
February 2, 2016
17:52 EDTTDWTidewater reports Q3 EPS with items (42c), consensus (29c)
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January 28, 2016
17:53 EDTTDWTidewater suspends dividend and repurchase program
Tidewater announced that its Board of Directors has approved management's recommendation to suspend Tidewater's quarterly dividend and common stock repurchase program. The dividend and share repurchase program suspension is part of a broader plan of reducing costs and capital expenditures in order to preserve liquidity in an oilfield services market that has been negatively impacted by the precipitous drop in oil prices and corresponding reduction in global E&P spending. By suspending what has been a $0.25 per share quarterly dividend, the company will preserve approximately $47 million of cash annually. No shares have been repurchased by the company under its share repurchase program this fiscal year and the remaining $100 million authorized under the current program was set to expire on June 30, 2016.

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