HAL - With Another Big Boost Is It Time to Buy This Supercharged Dividend Stock?
Halliburton (NYSE: HAL) is starting 2023 off with a bang. The oil-field services giant is increasing its dividend by 33% to $0.16 per share each quarter. That will push its dividend yield to 1.6%, right around the S&P 500 's level. It's the company's second big dividend boost in as many years.
Given the improving conditions in the oil market , Halliburton could continue to return more cash to its shareholders in the future. That sets it up to potentially produce attractive total returns.
Halliburton had a big year in 2022. Higher oil and gas prices gave producers the confidence to increase their capital spending. That drove demand for the company's equipment and services. Halliburton's revenue rose 33% for the year to $20.3 billion. Meanwhile, operating income rocketed 50% to $2.7 billion.
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With Another Big Boost, Is It Time to Buy This Supercharged Dividend Stock?