28.10.2016 15:13:18

Noble Corp Eliminates Quarterly Cash Dividend

(RTTNews) - Noble Corporation plc (NE) Friday announced that its board has approved the elimination of its quarterly cash dividend of $0.02 per share, effective immediately.

The company said the decision is in view of the continuation of challenging fundamentals in the offshore drilling industry, and further lowering of fleet utilization.

According to Noble Corp, the elimination of the dividend supports its continued focus on liquidity preservation and is expected to reduce annual cash expenditures by approximately $20 million.

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