Comstock Resources Inc. (CRK) announced that its Board declared its first dividend payable to its stockholders and has approved an open market share repurchase plan following the divestiture of the Company's West Texas oil and gas properties.
As announced yesterday, Comstock completed the divestiture of it West Texas oil and gas properties which generated $808 million in net proceeds, after selling costs. The company intends to use proceeds primarily to reduce debt and enhance financial flexibility.
The Board of Directors declared a dividend of $0.125 per share to be paid on June 15, 2013 to all stockholders of record as of May 31, 2013. The June 15th dividend is the first dividend made by the Company on its common stock and is intended to be part of an ongoing quarterly program.
The Board also approved an open market share repurchase plan which permits the company to repurchase up to $100 million of its common stock in the open market.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.