Transocean (NYSE:RIG), the offshore driller, made a splash during its earnings release by reinstating its dividend program at $2.24 per share on an annual basis. Considering that activist investor Carl Icahn made it known that he felt the company should release cash to investors, this should come as no surprise. While it wasn't the amount Icahn was looking for, it is no doubt a welcome sight for investors in the company. Transocean's dividend reinstatement follows the dividend news of several other energy service companies this quarter, and there could be a few more stories on the way. To see which company Motley Fool analyst Taylor Muckerman has his eyes on, check out the video below.
Follow @t_Muckerman Taylor is an Associate GM in our Fool International operations. Prior to that he covered all things Energy + Materials as an analyst. Over the years, he has built an investing skill set to rely on when evaluating companies inside and out. While at the Fool, he has made appearances on CNBC and Fox Business. In addition, he completed his MBA at the University of Maryland and will sit for the Level II CFA Exam.
- Mar 4, 2013 at 12:00PM
- Energy, Materials, and Utilities
National Oilwell Varco
- Transocean Positions Itself for a Rebound in 2019
- Transocean Ltd (RIG) Q4 2018 Earnings Conference Call Transcript
- Better Buy: DryShips Inc. vs. Transocean LTD.
- Behind-the-Scenes Conversation: What Am I Missing With These Beaten-Down Offshore Drilling Stocks?
- Why Top Offshore-Rig Stocks Fell More Than 15% in November