More on Tidewater's (TDW) Q1 results: Vessel revenue in sub-Saharan Africa and Europe rose 19% to $155.1M; revenue in the Americas rose 4.2% to $82.6M. Average day rates increased 16% Y/Y; worldwide fleet utilization rate improved to 69.4%. Operating margin rose to 17.8% from 16%. Total expenses climbed 11% to $269.8M. Shares +4.1% premarket.
Tidewater (TDW) declares $0.25/share quarterly dividend, in line with previous. Forward yield 1.76%. For shareholders of record June 04. Payable June 14. Ex-div date May 31. The board authorizes to repurchase up to $200M of common stock. (PR)