ENERGY SERVICES ANNOUNCES THE INITIATION OF A QUARTERLY DIVIDEND

Rhea-AI Summary

Energy Services of America (Nasdaq: ESOA) has announced the initiation of a quarterly cash dividend of $0.03 per common share. The dividend will be payable on January 2, 2025, to shareholders of record as of December 13, 2024. This move represents an increase in the company's annual dividend from $0.06 to $0.12 per share, demonstrating the company's commitment to shareholder returns.

Positive

• Doubled annual dividend from $0.06 to $0.12 per share
• Introduction of quarterly dividend payments instead of annual
• Demonstrates financial stability and commitment to shareholder returns

Negative

• None.

HUNTINGTON, W.Va. , Nov. 20, 2024 /PRNewswire/ -- Energy Services of America (the "Company" or "Energy Services") (Nasdaq: ESOA), today announced that the Company's board of directors declared a quarterly cash dividend of $0.03 per common share payable on January 2, 2025 to shareholders of record at the close of  business on December 13, 2024.

Douglas Reynolds, President, commented on the announcement. "The Board of Directors of Energy Services believes that the best way to show our appreciation and commitment to the Company's shareholders is to increase last year's $0.06 cash dividend to $0.12 by beginning a $0.03 per share quarterly dividend." 

About Energy Services

Energy Services of America Corporation (NASDAQ: ESOA), headquartered in Huntington, WV, is a contractor and service company that operates primarily in the mid-Atlantic and Central regions of the United States and provides services to customers in the natural gas, petroleum, water distribution, automotive, chemical, and power industries. Energy Services employs 1,200+ employees on a regular basis. The Company's core values are safety, quality, and production.

Certain statements contained in the release including, without limitation, the words "believes," "anticipates," "intends," "expects" or words of similar import, constitute "forward-looking statements" within the meaning of section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements of the Company expressed or implied by such forward-looking statements. Such factors include, among others, general economic and business conditions, changes in business strategy or development plans, the integration of acquired business and other factors referenced in this release. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.

View original content:https://www.prnewswire.com/news-releases/energy-services-announces-the-initiation-of-a-quarterly-dividend-302311937.html

SOURCE Energy Services of America Corporation

FAQ

What is Energy Services of America's (ESOA) new quarterly dividend amount?

Energy Services of America (ESOA) has declared a quarterly cash dividend of $0.03 per common share.

When will ESOA pay its first quarterly dividend in 2025?

ESOA will pay its quarterly dividend on January 2, 2025, to shareholders of record as of December 13, 2024.

How much has ESOA increased its annual dividend payment?

ESOA has increased its annual dividend from $0.06 to $0.12 per share, representing a 100% increase.

What is the record date for ESOA's Q1 2025 dividend?

The record date for ESOA's dividend is December 13, 2024.