Tidewater To Buy Back Up To $200 Mln Of Stock - Quick Facts

(RTTNews) - Tidewater Inc. (TDW) announced that its board has authorized a new repurchase program to buy back up to $200 million of its common stock, effective July 1, 2014 and through June 30, 2015.

The company's current $200 million repurchase authorization will continue in effect through June 30, 2014, and, through May 15, 2014, no common shares have been purchased by the Company under this current program. If shares are purchased pursuant to the current or new program, the Company will use its available cash and/or borrowings under its revolving credit facility or other borrowings to fund any share repurchases.

The company noted that its Board declared on May 15, 2014, a quarterly cash dividend of $0.25 per share of common stock payable June 16, 2014, to shareholders of record on June 6, 2014.