Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Great Lakes Dredge & Dock Corporation    GLDD

Delayed Quote. Delayed  - 07/25 10:00:00 pm
4.46 USD   -0.67%
07/21 GREAT LAKES DRE : Announces $93 Million in Domestic Dredging Awards ..
07/20 Great Lakes Announces $93 Million in Domestic Dredging Awards Plu..
05/03 GREAT LAKES DRE : posts 1Q loss
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Great Lakes Dredge & Dock Corporation : Declares a Special Dividend of $0.25

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/12/2012 | 02:55am CEST

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) announces that its Board of Directors ("the Board") has declared a special dividend on its common stock. The Board approved a $0.25 per share special dividend, to be paid on December 28, 2012 to the shareholders of record of the Company at the close of business on December 21, 2012. Future dividend payments remain subject to the discretion of the Board and depend on the Company's results of operations, financial position, cash flow generation and other business factors deemed relevant by the Board of Directors.

"Due to the uncertainty in Washington around taxation of dividends and our outlook for cash generation in the coming year we wanted to take this opportunity to provide this special dividend to our existing shareholders. This dividend represents quarterly dividends that the Board likely would have declared in fourth quarter 2012 as well as the acceleration of dividends for four quarters of 2013 plus an additional return of capital. The Board believes that this special dividend recognizes the support of our long-time shareholders while prudently addressing tax law changes that are currently scheduled to affect dividends paid next year. Based upon the outcome of tax reform the Board will address the Company's future approach to dividends," said Jonathan Berger, Chief Executive Officer.

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States and the only U.S. dredging company with significant international operations. The Company is also one of the largest U.S. providers of commercial and industrial demolition services primarily in the Northeast. The Company owns a 50% interest in a marine sand mining operation in New Jersey that supplies sand and aggregate for road and building construction and a 50% interest in an environmental service operation with the ability to remediate soil and dredged sediment treatment. Great Lakes employs over 150 degreed engineers, most specializing in civil and mechanical engineering, which contributes to its 122-year history of never failing to complete a marine project. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. Great Lakes also owns and operates the largest and most diverse fleet in the U.S. industry, comprised of over 200 specialized vessels.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission ("SEC"), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words "plan," "believe," "expect," "anticipate," "intend," "estimate," "project," "may," "would," "could," "should," "seeks," or "scheduled to," or other similar words, or the negative of these terms or other variations of these terms or comparable language, or by discussion of strategy or intentions. These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements with respect to Great Lakes, include, but are not limited to, risks associated with Great Lakes' leverage, fixed price contracts, dependence on government contracts and funding, bonding requirements and obligations, international operations, backlog, severe weather related costs, uncertainty related to pending litigation, government regulation, restrictive debt covenants and fluctuations in quarterly operations, and those factors, risks and uncertainties that are described in Item 1A "Risk Factors" of Great Lakes' Annual Report on Form 10-K for the year ended December 31, 2011, and in other securities filings by Great Lakes with the SEC.

Great Lakes Dredge & Dock Corporation
Katie Hayes, Investor Relations @ 630-574-3012


© Business Wire 2012
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GREAT LAKES DREDGE & DOCK
07/21 GREAT LAKES DREDGE & DOCK : Announces $93 Million in Domestic Dredging Awards Pl..
07/20 Great Lakes Announces $93 Million in Domestic Dredging Awards Plus an Additio..
05/03 GREAT LAKES DREDGE & DOCK CORP : Results of Operations and Financial Condition, ..
05/03 GREAT LAKES DREDGE & DOCK : posts 1Q loss
05/03 Great Lakes Reports First Quarter Results -- Earnings Per Share Meets Consens..
04/29 Great Lakes Announces $55 Million in Subcontract Work in the Middle East and ..
04/26 Great Lakes Dredge & Dock Corporation Schedules Announcement of 2016 First Qu..
02/23 GREAT LAKES DREDGE & DOCK : Results of Operations and Financial Condition, Finan..
02/23 GREAT LAKES DREDGE & DOCK : posts 4Q loss
02/23 Great Lakes Reports Year-End Results
More news
Sector news : Water & Sewage Construction
07/25 SUNOPTA DRAWS PRIVATE EQUITY INTERES : sources
07/19DJCIMIC : 1st Half Profit, Dividend Slightly Higher
07/13DJAugmented Reality Gets Boost From Success of 'Poké mon Go'
06/21DJNEW WORLD DEVELOPMENT : NWS Holdings to Sell NWS Kwai Chung Logistics Center For..
06/02DJOrange Executive Sees Delays in European Telecom Mergers
More sector news : Water & Sewage Construction
News from SeekingAlpha
05/03 Great Lakes Dredge & Dock's (GLDD) CEO Jon Berger on Q1 2016 Results - Earnin..
05/03 Great Lakes Dredge & Dock EPS in-line, misses on revenue
05/02 Notable earnings before Tuesday?s open
02/23 Great Lakes Dredge & Dock's (GLDD) CEO Jonathan Berger on Q4 2015 Results - E..
02/23 Great Lakes Dredge & Dock (GLDD) Q4 2015 Results - Earnings Call Webcast
Advertisement
Financials ($)
Sales 2016 850 M
EBIT 2016 30,4 M
Net income 2016 3,24 M
Debt 2016 -
Yield 2016 -
P/E ratio 2016 67,32
P/E ratio 2017 18,45
Capi. / Sales 2016 0,32x
Capi. / Sales 2017 0,30x
Capitalization 272 M
More Financials
Chart GREAT LAKES DREDGE & DOCK
Duration : Period :
Great Lakes Dredge & Dock  Technical Analysis Chart | GLDD | US3906071093 | 4-Traders
Full-screen chart
Technical analysis trends GREAT LAKES DREDG...
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 5,63 $
Spread / Average Target 25%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Jonathan W. Berger President, Chief Executive Officer & Director
Michael Joseph Walsh Chairman
Kyle D. Johnson Chief Operating Officer & Executive Vice President
Mark W. Marinko Chief Financial Officer & Senior Vice President
Peter R. Deutsch Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
GREAT LAKES DREDGE & D..13.38%272
VINCI12.53%43 476
CHINA STATE CONST. ENG..-13.72%24 538
CHINA COMMUNICATIONS C..9.41%23 701
CHINA RAILWAY GROUP LT..-36.54%22 528
LARSEN & TOUBRO LIMITE..23.16%21 833
More Results