Helmerich & Payne (HP) will increase its quarterly dividend by 233.3 percent to $0.50 per share. This follows double digit dividend hikes by the driller in each of the previous three years. Last year the dividend was increased by 114.3 percent.

Helmerich & Payne, Inc. is primarily a contract drilling company. The company provides performance-driven drilling services and technologies for oil and gas exploration and production companies. The company's business is composed of four reportable business segments - three contract drilling business segments: U.S. Land, Offshore and International Land and one drilling technology-based business segment: Helmerich & Payne Technologies. U.S. Land operations are located in Colorado, Louisiana, Ohio, Oklahoma, Montana, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia and Wyoming. Offshore operations are conducted in U.S. federal waters in the Gulf of Mexico and International Land operations has rigs located in Argentina, Bahrain, Colombia and United Arab Emirates. HP also owns, develops and operates limited commercial real estate properties. Real estate investments, which are located exclusively within Tulsa, Oklahoma, include a shopping center, multi‑tenant industrial warehouse properties and approximately 210 acres of undeveloped real estate. Helmerich & Payne, Inc. was incorporated under the laws of the State of Delaware on February 3, 1940 and is successor to a business originally organized in 1920.