Nabors Industries Ltd. (NBR) Raises Quarterly Dividend 50% to $0.06; 0.8% Yield

July 24, 2014 4:30 PM EDT

Nabors Industries Ltd. (NYSE: NBR) declared a quarterly dividend of $0.06 per share, or $0.24 annualized. This is a 50% increase from the prior dividend of $0.04.

The dividend will be payable on September 30, 2014, to stockholders of record on September 9, 2014, with an ex-dividend date of September 5, 2014.

The annual yield on the dividend is 0.8 percent.

Tony Petrello, Nabors' Chairman and CEO, commented, "The Board's increase in the dividend reflects the financial strength of the Company and our strong commitment to increase shareholder value. As we commented during our earnings call, we have made significant progress toward our strategic objectives. This progress, together with favorable market trends, have provided us with a high level of confidence in our future cash generation, which gives us the ability to take steps to deliver even more value to shareholders, while also maintaining the right level of capital investment in the new assets and technologies that will enable us to grow the business over the long term."

For a dividend history and other dividend-related data on Nabors Industries Ltd. (NBR) click here.

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