SEITEL ANNOUNCES QUARTERLY CASH AND STOCK DIVIDENDS
SEITEL ANNOUNCES QUARTERLY CASH AND STOCK DIVIDENDS HOUSTON, Nov. 12 /PRNewswire/ -- Seitel, Inc. (NYSE: SEI) today
announced that its regular quarterly cash dividend of 2.5 cents per share, and its regular quarterly stock dividend of 1 percent a share, will be paid Jan. 8, 1992 to shareholders of record as of Dec. 16, 1991. Fractional shares will be redeemed for cash in connection with payment of the stock dividend.
"In addition to continued strong operating growth, Seitel is currently one of the few companies with an increasing dividend yield -- thanks to our combined quarterly stock and cash dividend payouts," said Paul A. Frame, president. For the first nine months of 1991, Seitel's net income jumped 28 percent to $4.3 million, equal to $.84 per share, from the record $3.4 million, or $.69 a share, a year ago. Revenues rose 23 percent to $20.3 million from the record $16.5 million registered in last year's nine months. Seitel is a scientific data creation and library company specializing in seismic data, geophysical information fundamental to the exploration for crude oil and natural gas. Seitel concentrates in the Texas/Louisiana/Gulf Coast, where over 25 percent of onshore U.S. petroleum exploration is conducted annually. Its active clients total more than 135 major and independent petroleum companies, including all of the top 20 oil and gas producers in the United States. -0- 11/12/91 /CONTACT: Jay M. Green, director-investor relations of Seitel, 713-558-1990/ (SEI) CO: Seitel Inc. ST: Texas IN: OIL SU: DIV TS -- NY054 -- 3450 11/12/91 12:09 EST
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|Date:||Nov 12, 1991|
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