Civeo initiates quarterly dividend of $0.25/share and renews share buyback for 5% of shares

Civeo Corp

Quarterly dividend of $0.25 per share declared; payable Sept 29, 2023 to holders of record Sept 15, 2023.
Board renewed share repurchase authorization for up to 5% of total shares outstanding over next twelve months.
Company cites target net leverage ratio of 1.00x-1.25x and expected consistent cash flow generation.
Over past two years, Civeo repurchased 12.4% of fully diluted shares (approx. 2.1 million shares).
Future dividends subject to quarterly Board approval; repurchases funded from cash on hand and operations.

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