SDRL has declared 75 cents quarterly dividend, including the one payable in about a week, for the next 4 Qs.
That makes the dividend $3.00.
ALL of the reporting agencies I visited
including the WSJ [Market Watch], Google & Yahoo,
has incorrect info - ALL report much lower numbers.
For details on dividends visit SDRL's website
which incidentally is one of the most informative websites on ANY traded stock I have seen.
Yahoo Finance takes the last dividend declared, whatever it is, for any stock, and multiplies it times 4, to give you what the Future dividend will be for the coming year. If they had declared only .10 (cents), then on the Summary page it would read $.40, for the coming year. Since it was $.75 times 4, it shows $3.00 for the coming year. Please use the website for all your info.
Furthermore, everyone should contact the SEC and your Congresspeople to reinstate the Uptick Rule for short selling. This market will NEVER recover unless the rule is reinstated. It was removed on July 6, 2007. Look it up on Wikipedia, and help yourselves. Cheers.
You are correct they are paying 75 cents today. But you are INCORRECT the div will be $3.00 for the year.
Sdrl declares its divy each quarter - not for the year. Last qtr it was .875 (67.5 regular, 20 special), the qtr before .65
Recheck the website.
I believe Doug is referring to the following statement in the 1Q11 SDRL report (pg 11), which indeed clearly indicates that the 2011 annual dividend will be $3.00 or more.
Quarterly Cash Dividend
The Board has decided to increase the long-term quarterly dividend to US$0.70 based on
improved market outlook for high quality drilling units and strong earnings visibility. In
addition, the Board has decided to pay out an additional US$0.20 per share during the
next four quarters, payable by US$0.05 per quarter. This top-up dividend reflects the
present strong cash flow and could if the current market sentiment continues or improves
further also be payable for the coming years. Total dividend for the next quarters is
thereby likely to be minimum US$0.75 per share.