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Jim Trippon is a certified genius, a member of MENSA, and the epitome of the “Overachieving Entrepreneur.” He’s an internationally renowned and globally experienced investment expert, dedicated to finding undervalued, “under the radar” investments for his worldwide clients and subscribers. He... More
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  • Dividend Stock TransOcean Hikes Dividend - 1st Time In 8 Years 1 comment
    Feb 18, 2010 11:17 AM | about stocks: RIG, DO, NOV

    Transocean Plans First Regular Dividend In 8 Years

     Transocean Plans First Regular Dividend In 8 Years

    About: Transocean (NYSE: RIG), Diamond Offshore (NYSE: DO), Transocean, Tranocean rival National Oilwell Varco (NYSE: NOV), Simmons & Co., Dividend Genius, dividend stock, dividend stocks, stock dividend, stock dividends) Bookmark and Share

    Transocean (NYSE: RIG), the world's largest operator of offshore oil rigs, is planning an annual dividend of $3.11 a share, the company's first regularly scheduled payout since 2002. The company paid a special dividend in 2007, its last payout to shareholders. There have been some positive signs on the dividend front from the oil services sector over the past few months as Tranocean rival National Oilwell Varco (NYSE: NOV) announced its first quarterly dividend late last year and Diamond Offshore (NYSE: DO) continued its tradition of special dividends in addition to its regular payout.

    Based on Tuesday's closing price of $82.85, Tranocean would yield a decent 3.7%. In addition to the dividend announcement, Transocean said it will repurchase $3.2 billion of its own shares, equivalent to about 12% of its outstanding shares. Despite all of this news, investors seemed to be disappointed as Transocean shares were down a little bit on Tuesday.

    Simmons & Co. had forecast a Transocean dividend in a note to clients late last month, but said the $3.11 payout missed its target of $4. Simmons said it views Transocean's dividend announcement as “a minimum foundation for regular annual dividend.”

    For more information about Dividend Genius, visit http://www.dividendgenius.com. To see the latest special offer from Dividend Genius, visit: http://www.dividendstockblog.com/dividend-genius-video.html

    Committed To Your Dividend Profits,

    Jim Trippon
    Dividend Genius


    Disclosure: no positions
    Stocks: RIG, DO, NOV
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  • crazy_ate
    , contributor
    Comments (4) | Send Message
    It's not a dividend, it's a capital distribution, read the proxy filing
    4 Jun 2010, 05:30 PM Reply Like
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