Helmerich & Payne Inc (HP) will raise its quarterly dividend by 1.4 percent to $0.71 per share. This marks the 47th year of annual dividend increases by the company.

The next dividend is payable August 31, 2018, to stockholders of record at the close of business August 17, 2018.  This $0.71 quarterly dividend represents a $0.01 increase from the $0.70 dividend paid in the previous quarter. The new dividend yields 4.5%.

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.