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CALGARY, ALBERTA--(Marketwired - May 12, 2015) - Trican Well Service Ltd. (TSX:TCW) announces that it is suspending the Corporation's dividend until further notice.
Since May 2006 the Corporation has maintained a dividend policy of paying dividends on a semi-annual basis. Since February 2012 this semi-annual dividend has been in the amount of $C 0.15 per share. However, given current economic conditions and the weak economic outlook, Trican's Board of Directors has decided to suspend the Corporation's dividend until further notice. The Board of Directors will continue to re-evaluate the dividend policy on a quarterly basis.
Headquartered in Calgary, Alberta, Trican has operations in Canada, the United States, Russia, Kazakhstan, Norway, Colombia, Saudi Arabia, and Australia. Trican provides a comprehensive array of specialized products, equipment and services that are used during the exploration and development of oil and gas reserves.