HOUSTON, Jan. 19, 2016 /PRNewswire/ -- CARBO Ceramics Inc. (NYSE: CRR) announced today that its Board of Directors has decided to suspend the payment of a dividend. The Board of Directors will continue to evaluate the dividend on an ongoing basis.
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Gary Kolstad, President and CEO of CARBO, said "The decision by the Board of Directors to suspend the dividend was not an easy one given the importance of the dividend to our shareholders. However, it is necessary to continue to take measures to preserve cash during this prolonged industry downturn."
Fourth Quarter Conference Call Details
The Company also plans to release earnings results for the 2015 fourth quarter and year end on January 28, 2016, and will host a conference call at 10:30 a.m. Central Time (11:30 a.m. Eastern) that day. Gary Kolstad, President and CEO, and Ernesto Bautista, III, Vice President and CFO, will host the call.
Due to historical high call volume, the company is offering participants the opportunity to register in advance for the conference through the following link:
Registered participants will immediately receive an email with a calendar reminder and a dial-in number and PIN that will allow them immediate access to the call on January 28, 2016.
Participants who do not wish to pre-register for the call may dial in using (877) 232-2832 (for U.S. callers), (855) 669-9657 (for Canadian callers) or (412) 542-4138 (for International callers) and ask for the "CARBO Ceramics" call. The conference call also can be accessed through the company's website, www.carboceramics.com.
A telephonic replay of the earnings conference call will be available through February 4, 2016 at 9:00 a.m. Eastern Time. To access the replay from the U.S., please dial (877) 344-7529 and Canada 855-669-9658; international callers outside North America should dial (412) 317-0088. Please reference conference number 10078283. Interested parties may also access the archived webcast of the earnings teleconference through the company's website approximately two hours after the end of the call.
CARBO focuses on integrating technologies to produce engineered solutions in its Design, Build, and Optimize the Frac® technology businesses, delivering important value to E&P operators by increasing well production and EUR.
For more information, please visit www.carboceramics.com.
Mark Thomas, Director, Investor Relations
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SOURCE CARBO Ceramics Inc.