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Noble Energy to Split Stock, Raise Dividend

By Eric Volkman - Apr 22, 2013 at 7:41PM

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The company plans to effect a two-for-one split, boosting its payout by $0.03 in the process.

Investors in Noble Energy (NBL) will soon possess double the number of company shares, and they'll be slightly richer. The company announced that its board has approved a two-for-one split of its common stock, which will be effected in the form of a share dividend. The new stock will be distributed on May 28 to shareholders of record as of May 14.

Noble also announced a boost in its regular quarterly dividend. The firm plans to hand out $0.28 per share on May 20 to shareholders of record as of May 6. This amount represents a 12% increase over the company's previous distribution of $0.25, which was dispensed in February.

The new dividend annualizes to $1.12 per share. That yields a little more than 1% at Noble's current stock price of $108.61.

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