Market Overview

Noble Corporation To Pay Adjusted Dividend

Share:

Noble Corporation plc (NYSE: NE) disclosed that its board took a decision to adjust its dividend rate. As a result, the company declared a quarterly dividend of $0.02 per share.

The company's President and CEO, David Williams, said "Noble continues to implement strategic adjustments that further reinforce our sound position as we guide the Company through this historic downturn. This action fortifies our robust liquidity, which stood at $2.7 billion at March 31, 2016. We are confident that the efficient use of cash reserves, which enhances liquidity and improves our financial flexibility, will help drive our long-term success and continue to strengthen our competitiveness in the offshore drilling industry."

Noble said the stock would turn to ex-dividend on April 28 for the purpose of payment of the dividend. The company has fixed a record date of May 2, 2016 while the payment would be made on May 9, 2016. The Company indicated that it expects the current dividend to be treated as a qualified dividend in the U.S. for the purpose of taxes.

Following the news, the stock traded 6.88 percent higher on Friday.

Posted-In: News Dividends

 

Related Articles (NE)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Soybean, Wheat Futures Plunge

Time For A POOL Change; This Water Is Murky