insane dividends

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H&E Equipment Services Declares One-time Special Cash Dividend Of $7.00/shr


(RTTNews.com) - H&E Equipment Services Inc. (HEES) announced that its board declared a one-time special cash dividend of $7.00 per share, payable on September 19, 2012 to stockholders of record at the close of business on September 5, 2012. The aggregate amount of the payment to be made in connection with the Dividend will be approximately $246 million.

H&E Equipment said that the Dividend will be funded by the proceeds of the company's offering of $530 million aggregate principal amount of 7% senior notes due 2022, which closed on August 20, 2012.

At $7 per share, the Dividend represents approximately 39.8% of the Company's opening stock price on August 20, 2012.