Ship Finance to raise 3Q dividend on rig purchases

By Associated Press
September 16, 2008 | Comments (0)

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Oil tanker owner and operator Ship Finance International Ltd. said Tuesday it will raise its third-quarter dividend by 3.4 percent after agreeing to purchase two drilling rigs for $1.7 billion.

The Bermuda-based company said it will boost its dividend to 60 cents per share from 58 cents per share.

Shares of Ship Finance fell 5 cents to $20.58 in morning trading.

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