Noble Corporation Announces 50 Percent Increase In Dividend And Sets Schedule For Dividend Payment
LONDON, Jan. 30, 2014 /PRNewswire/ -- Noble Corporation (NYSE: NE) today announced its Board of Directors has approved an increase in the Company's quarterly cash dividend, which will result in a total quarterly dividend of $0.375 per share, or $1.50 per share on an annualized basis. This represents a 50 percent increase from the previous quarter. The ex-dividend date for this payment is expected to be February 6, 2014, with a record date of February 10, 2014 and a payment date of February 20, 2014.
An aggregate dividend in the amount of USD $1.00 per share, to be paid in four quarterly installments of USD $0.25 per share, was previously approved by shareholders at the Company's Annual General Meeting on April 26, 2013. The increased dividend of $0.375 per share includes the third of these four installments and an additional dividend equal to $0.125 per share. The Company expects that this dividend will be treated as a qualified dividend for purposes of U.S. taxes.
David W. Williams, Chairman, President and Chief Executive Officer of Noble Corporation, stated, "Our Board has demonstrated its support for returning cash to shareholders, even during the Company's transformation involving significant capital expenditures devoted to our newbuild program. This increase in our dividend is part of our strategy to deliver attractive returns to our shareholders, in line with our capital allocation strategy and Noble's strong financial position."
About Noble Corporation
Noble is a leading offshore drilling contractor for the oil and gas industry. Noble performs, through its subsidiaries, contract drilling services with a fleet of 77 offshore drilling units (including two ultra-deepwater drillships and four high-specification jackup drilling rigs currently under construction), located worldwide, including in the U.S. Gulf of Mexico and Alaska, Mexico, Brazil, the North Sea, the Mediterranean, West Africa, the Middle East, India, Malaysia and Australia. Noble's shares are traded on the New York Stock Exchange under the symbol "NE." Noble Corporation plc is a public limited company registered in England and Wales with company number 08354954 and registered office at Devonshire House, 1 Mayfair Place, London, W1J 8AJ England. Additional information on Noble Corporation is available on the Company's Web site at http://www.noblecorp.com.
Forward-looking disclosure statement
This news release may contain "forward-looking statements" about the business, financial performance and prospects of the Company. Statements about the Company's or management's plans, intentions, expectations, beliefs, estimates, predictions, or similar expressions for the future, including any statements regarding the payment of any dividend, the timing or amount of such payment, the anticipated tax treatment of any such payment, capital allocation strategy and anticipated returns, are forward-looking statements that involve certain risks, uncertainties and assumptions. No assurance can be given that the outcomes of these forward-looking statements will be realized, and actual results could differ materially from those expressed as a result of various factors. A discussion of these factors, including risks and uncertainties, is set forth from time to time in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC").
SOURCE Noble Corporation