ZUG, Switzerland, Feb. 4, 2013 /PRNewswire/ -- Noble Corporation (NE) today reported that the Company's Board will recommend that shareholders approve an increase in the Company's dividend for the 2013-2014 dividend cycle. The proposed increase will be submitted for shareholder approval and authorization at the annual general meeting in April 2013.
The proposed dividend would be in the amount of USD $1.00 per share and would be funded from the Company's capital contribution reserve. If approved by shareholders, the dividend will be paid in four equal installments of USD $0.25 per share with expected payment dates in August 2013, November 2013, February 2014 and May 2014. Noble also announced that its 2013 annual general meeting of shareholders will be held on Friday, April 26, 2013, at 3:00 p.m. local time at the Park Hotel Zug in Zug, Switzerland.
The BOD is recommending almost doubling the current dividend payout, from $.52 to $1 anually, an increase from 1.2% to 2.4%. This news should also boost the pps for NE.
Now, if management can only make 2013 a productive year for NE, in terms of revenue/profit, then no telling how high this stock can fly. All the cards are on the table, assets/demand, management just needs to play it's hand right.