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WEATHERFORD INTERNATIONAL ANNOUNCES PAYMENT OF CASH DIVIDENDS

 HOUSTON, Oct. 13 /PRNewswire/ -- Weatherford International (AMEX: WII) announced today that the board of directors of the company has approved the payment of cash dividends in arrears totaling $10.39 per share on its $2.625 convertible exchangeable cumulative preferred stock.
 The dividends in arrears, which total $6,086,000, will be paid on Oct. 26 to preferred stockholders of record at the close of business on Oct. 15.
 The company did not pay dividends on the preferred stock from Jan. 15, 1986 through Oct. 15, 1989, but resumed paying regular quarterly dividends on Jan. 15, 1990.
 The company announced that the board of directors is evaluating a plan to redeem the preferred stock and indicated that payment of the dividends in arrears is being made as part of that plan. No assurance can be given that the board will approve redemption.
 Weatherford is a Houston-based diversified international energy service and manufacturing company that provides tubular running services, fishing and rental tool services, cementation products and other specialized equipment for the oil and gas industry.
 -0- 10/13/92
 /CONTACT: Norman W. Nolen, chief financial officer of Weatherford International, 713-439-9400/
 (WII)


CO: Weatherford International ST: Texas IN: OIL LEI SU: DIV

RA-TG -- AT005 -- 1519 10/13/93 09:17 EDT
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Publication:PR Newswire
Date:Oct 13, 1993
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