The Dynamic Dividend

RPC Begins Another Year of Huge Dividend Growth

RPC, Inc. (RES) announced a 20% increase to its dividend (and a 3-for-2 stock split) this morning, confirming the oil and gas services company isn’t done growing its payout even after two years of monster dividend hikes.

RPC declared a quarterly dividend of $0.12 per share, topping the $0.10 per share it paid last quarter. The dividend will be paid on a pre-split basis.

RPC more than doubled its payout in 2011 thanks to raises of 50%, 14%, and 25%. Those bold moves came after the company handed out two big dividend hikes and a 3-for-2 split in 2010.

In all, RPC has now grown its payout by 350% since the beginning of 2010.

Shares of RES closed Tuesday’s session trading at $17.53, where they now feature a 2.74% yield.