PHX Energy Declares Quarterly Dividend of C$0.20 per Share

PHX Energy Services Corp. declared a quarterly cash dividend of C$0.20 a share, payable July 15 to shareholders of record June 30. The dividend qualifies as an eligible payout under Canadian tax rules, the company said Monday.

The Calgary-based firm provides horizontal and directional drilling services to oil and gas producers in Canada and the U.S. It also engineers and manufactures drilling technologies, describing itself as a technology leader in the sector. Its shares trade on the Toronto Stock Exchange under the symbol PHX.

The dividend marks the latest in a series of quarterly payouts from PHX Energy. The company's board cited its growth-oriented strategy and investments in new technologies in the dividend decision, PHX Energy said. The eligible dividend designation means Canadian resident shareholders can claim a dividend tax credit on the payout.

PHX Energy's operations cover the Western Canadian Sedimentary Basin and the Permian Basin, giving it exposure to crude oil production in two of North America's busiest drilling regions.