I'm taking this divy and heading to Florida in January.
I fully expect by June of next year we will see this stock back above the current price as earnings and divy return, so I am quite happy to receive an upfront double divy which tells me that the company is quite confident looking ahead six months from now.
I am also raising cash to buy even more shares when the shortsighted people sell after the divy is paid.
Sorry the $40 short-term trade didn't work out. While you could be in for a little pain post-div (it's a pretty long distance until the next div and the overall market could start getting weaker from here too...) I agree that ultimately your longer-term hold should work out fine. I was happy to hear you didn't try to make the $40 target an options play!
Hopefully we'll get some good news catalysts from SDRL early next year to help prop the stock up while folks wait for div resumption.
Me, I'm staying out for a little while longer. With any luck (for me) there will be a nice storm that combines fiscal-cliff sell-off with post-div weakness and really puts SDRL on-sale.