Offshore Driller Joins Ranks of Dividend Raisers
With great visibility into its cash flow generation opportunities in the future, Ensco decided it was time to raise its dividend. This confidence to generate cash flow is based partly around the company's record $11 billion backlog, and partly around its ever-increasing fleet size. Add to that several peer-leading liquidity and solvency metrics, and management decided it has the ability to reward shareholders with a 33% quarterly dividend hike. While its yield still falls short of Seadrill's near 10% payout, Ensco is in a much better financial situation than its smaller peer. Check out what Ensco investor and Motley Fool analyst Taylor Muckerman has to say.
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The article Offshore Driller Joins Ranks of Dividend Raisers originally appeared on Fool.com.Joel South has no position in any stocks mentioned. Taylor Muckerman owns shares of Ensco. The Motley Fool recommends Seadrill. The Motley Fool owns shares of Seadrill and Transocean. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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