Secure Energy Services (TSX: SES) is a Calgary, Canada-based energy services company. SES operates through three divisions: Processing, Recovery and Disposal; Drilling Services; and On the Site Services.
SES shares edged higher in trading today after the company announced dividend for the month of May. The company’s Board of Directors declared a dividend of $0.02 per common share for the month of May. The dividend will be payable on or about May 15, 2016 to shareholders on record on May 1, 2016. SES currently offers a dividend yield of 2.76%. Over the last one year, SES shares have fallen more than 50%.
The poor performance of SES shares over the last one year does not come as a surprise. As oil prices have collapsed, oil & gas producers have cut back on spending. The spending cut has hurt the financials of energy services companies like Secure Energy Services. However, SES might be worth a look now as oil prices have shown signs of recovery. Indeed, over the last one month as oil prices have bounced back, SES shares have gained more than 5%. SES could extend its gains if major producers agree to a production freeze this weekend when they met in Doha, Qatar.
