Oceaneering Announces Two-for-One Stock Split; Initiates Quarterly Dividend of $0.15

Oceaneering International, Inc. OII announced that its Board of Directors has declared a two-for-one common stock split and the initiation of a regular quarterly dividend. The two-for-one common stock split is to be accomplished by means of a stock dividend, payable on June 10, 2011 to shareholders of record as of the close of business on May 19, 2011. Based on the current number of shares outstanding, the stock split will increase Oceaneering's total shares outstanding from approximately 54 million to 108 million. Oceaneering expects that its common stock will begin trading on a split-adjusted basis on June 13, 2011. Oceaneering's Board also initiated a regular quarterly dividend of $0.15 per common share on the split-adjusted shares, with the first such dividend payable on June 29, 2011 to shareholders of record at the close of business on June 17, 2011.