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Comstock Resources Declares Its First Common Stock Dividend, Announces Share Buybacks

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It's taken quite some time, but Comstock Resources (NYSE: CRK  ) is finally returning money to holders of its common stock in the form of a dividend. The storied firm announced it will make its first such distribution on June 15, to the tune of $0.125 per share. Holders of record as of May 31 will be eligible for the payout.

That dividend annualizes to $0.50 per share. That yields 2.9% at Comstock's current stock price of $17.35.

The company said in the press release announcing the move that it intends to continue paying quarterly distributions.

Comstock also announced it has authorized a share repurchase program of up to $100 million worth of stock. The firm stressed that the authorization does not mandate the purchase of a specific number of shares.

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Eric Volkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

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Related Tickers

5/6/2016 12:33 PM
CRK $0.76 Down -0.02 -3.04%
Comstock Resources… CAPS Rating: *