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HOUSTON/LONDON - Baker Hughes (NASDAQ: BKR), an energy technology company with a market capitalization of $37.4 billion, announced on Tuesday that its Board of Directors has declared a quarterly cash dividend of $0.23 per share of Class A common stock, representing a 2.43% yield. The dividend is payable on May 16, 2025, to stockholders of record as of May 6, 2025. According to InvestingPro data, the company has maintained dividend payments for an impressive 39 consecutive years.
The company, which operates in over 120 countries and generates annual revenue of $27.8 billion, stated that it expects to fund this dividend through cash generated from its operations. This declaration reflects Baker Hughes’ ongoing commitment to delivering value to its shareholders, supported by its strong financial health and perfect Piotroski Score of 9, as reported by InvestingPro.
Baker Hughes has a history of over a century in the energy sector, providing a range of services and technologies aimed at making energy production safer, cleaner, and more efficient. The company’s solutions cater to energy and industrial customers globally, with a focus on driving progress in the energy industry. Trading at a P/E ratio of 12.8 and operating with moderate debt levels, analysis suggests the stock is currently undervalued.
This financial move comes as part of the company’s regular practice of returning capital to shareholders through dividends. It is a common way for companies to share a portion of their profits with investors, and Baker Hughes has not only maintained a consistent record of dividend payments but has raised its dividend for three consecutive years, demonstrating strong financial discipline and shareholder commitment.
The announcement is based on a press release statement from Baker Hughes and does not include any additional commentary or speculation about the company’s financial strategies or market position. The dividend is subject to the customary conditions and approvals.
Investors and stakeholders typically view dividend announcements as indicators of a company’s financial health and its management’s confidence in the firm’s cash flow stability. Baker Hughes’ declaration is likely to be received positively by the market, given its implication of steady operational performance.
For more information regarding Baker Hughes and its operations or financial strategies, interested parties are directed to contact the company’s investor and media relations representatives.
In other recent news, Baker Hughes has reported significant developments across various fronts. The company saw a 9% increase in revenues for 2024, with its Industrial Energy Technology (IET) segment experiencing a nearly 20% rise, primarily driven by gas technology equipment sales. This expansion contributed to S&P Global Ratings upgrading Baker Hughes’ credit rating to ’A’, citing improved margins and a strong IET business. Additionally, Baker Hughes secured a multi-year contract with Dubai Petroleum Establishment to provide integrated coiled-tubing drilling services for the Margham Gas storage project, enhancing Dubai’s energy stability. In board-related news, Baker Hughes announced that Lynn L. Elsenhans will not seek re-election, while Ilham Kadri will join the board, expanding it from ten to eleven members. Analyst firm Stifel maintained a Buy rating on Baker Hughes with a price target of $35, highlighting the company’s strategic focus on non-commoditized services. These developments underscore Baker Hughes’ ongoing efforts to strengthen its market position and financial health.
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