Noble Corp (NE) Lowers Quarterly Dividend 86.7% to $0.02; 0.7% Yield

April 22, 2016 11:11 AM EDT

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Noble Corp (NYSE: NE) declared a quarterly dividend of $0.02 per share, or $0.08 annualized. This is an 86.7% decrease from the prior dividend of $0.15.

The dividend will be payable on May 9, 2016, to stockholders of record on May 2, 2016, with an ex-dividend date of April 28, 2016.

The annual yield on the dividend is 0.7 percent.

Addressing the Board's decision to adjust the dividend, David W. Williams, Chairman, President and Chief Executive Officer of Noble Corporation plc, said, "Noble continues to implement strategic adjustments that further reinforce our sound position as we guide the Company through this historic downturn. This action fortifies our robust liquidity, which stood at $2.7 billion at March 31, 2016. We are confident that the efficient use of cash reserves, which enhances liquidity and improves our financial flexibility, will help drive our long-term success and continue to strengthen our competitiveness in the offshore drilling industry."

For a dividend history and other dividend-related data on Noble Corp (NE) click here.

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