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February 16, 2006

Halliburton Stock Split Iraq  Politics

At Halliburton, war is our business, and business is good. MarketWatch:

Halliburton Co., coming off a banner year in the energy sector and flush with Pentagon contracts abroad, announced Thursday a series of measures to share the spoils with shareholders.

The Houston-based company said its board of directors approved a two-for-one stock split that would double its shares outstanding to 2 billion. Stockholders must still sign off on the split.

The quarterly dividend for Halliburton stock was also raised 20% to 15 cents a share. The higher payout is set for March 23 for shareholders as of March 2.

A $1 billion share buyback is also in the works, the company said.

The moves come as Halliburton is gearing up to spin off part of its KBR division, which last year became the U.S. Army's biggest contractor. In terms of defense contracts with all branches of the military, Halliburton now ranks sixth overall. [Emphasis added]

The country may be circling the drain, but Halliburton shareholders are raking it in.

Blood money.

Posted by Jonathan at February 16, 2006 09:49 PM  del.icio.us digg NewsVine Reddit YahooMyWeb