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Harry Domash
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Harry Domash publishes DividendDetective.com, a site specializing in high-dividend investing. He also publishes WinningInvesting.com, a free site featuring “how to” investing tutorials and other resources. His best selling book on fundamental analysis, “Fire Your Stock Analyst,” published by... More
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  • SeaDrill Raises Dividend - Paying 8.4% 0 comments
    May 27, 2011 5:04 PM | about stocks: SDRL

    Global offshore drilling services provider SeaDrill (NYSE:SDRL) raised its quarterly dividend by 11% to $0.75/share, bringing its yield up to 8.4%. SeaDrill, which is controlled by Norwegian shipping tycoon John Fredriksen, only started paying quarterly dividends in June 2010.

    This year’s June payout is 25% above year-ago. SeaDrill can easily afford the payout hike. Its just reported March quarter earnings rose 280% year-over-year on a 30% gain in revenues. Operating cash flow, the most important number in terms of ability to pay dividends, rose 177% vs. year-ago to $1.15/share. The 8.4% expected yield is phenomenal for such as fast grower.
    Stocks: SDRL
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