Noble Corp.'s (NE -1.6%) proposed dividend increase to $1/year from $0.50 fails to receive a...


Noble Corp.'s (NE -1.6%) proposed dividend increase to $1/year from $0.50 fails to receive a favorable review from all corners. UBS says NE likely would need to borrow to pay the dividend, since the company "is not generating free cash flow until 2014 and in 2013 will have to borrow again to complete the construction of its newly build program." Shareholder activism could have influenced the move, UBS adds.

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