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.
Taylor Muckerman owns shares of Halliburton and Ensco. The Motley Fool recommends Halliburton, National Oilwell Varco, and Seadrill. The Motley Fool owns shares of National Oilwell Varco, Seadrill, and Transocean. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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