Ensco plc (NYSE: ESV) announced today that its Board of Directors has
declared a regular quarterly cash dividend of $0.375 per Class A
ordinary share payable on 23 March 2012 to holders of Ensco’s American
depositary shares (ADS) as of the 12 March 2012 record date. The prior
quarterly dividend was $0.35 per share.
Chairman, President and Chief Executive Officer Dan Rabun stated, “The
quarterly dividend increase is supported by our strong financial
position and positive outlook for future earnings growth. Higher
utilization and average day rate projections for both our deepwater and
jackup segments, new long-term contracts recently signed for our
newbuild rigs and increasing customer demand have given us even greater
visibility into future cash flows.”
Mr. Rabun added, “Management and the Board believe the new dividend
payout is prudent and sustainable. We expect that we will continue to
have adequate liquidity to meet capital commitments for our rigs under
construction, as well as sufficient flexibility to make new investments.
We will continue to assess economic and market conditions to evaluate
whether additional dividend increases may be appropriate in the future
as part of our overall capital management plan.”
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Ensco plc (NYSE: ESV) brings energy to the world as a global provider of
offshore drilling services to the petroleum industry. We are ranked #1
for overall customer satisfaction in the leading independent survey
conducted by EnergyPoint Research with #1 ratings in 14 of 16 separate
categories. Ensco has served customers for 25 years and operates the
world’s second largest offshore drilling fleet comprised of
dynamically-positioned drillships and semisubmersibles, moored
semisubmersibles and premium jackups. To learn more about Ensco, please
visit our website at www.enscoplc.com.
Ensco plc is an English limited company (England No. 7023598) with its
registered office and corporate headquarters located at 6 Chesterfield
Gardens, London W1J 5BQ.
Statements contained in this press release that are not historical
facts are forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking statements include words or phrases such as
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,”
“project,” “could,” “may,” “might,” “should,” “will” and similar words
and specifically include statements regarding expected financial
performance, day rates and backlog; and general market, business and
industry conditions, trends and outlook. Such statements are
subject to numerous risks, uncertainties and assumptions that may cause
actual results to vary materially from those indicated, including
downtime and other risks associated with offshore rig operations; and
possible cancellation or suspension of drilling contracts as a result of
mechanical difficulties, performance or other reasons. In
addition to the factors described above, you should also carefully read
and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” in Part II of our most recent annual report on Form 10-K,
which is available on the SEC’s website at www.sec.gov
or on the Investor Relations section of our website at www.enscoplc.com.
Each forward-looking statement speaks only as of the date of the
particular statement, and we undertake no obligation to publicly update
or revise any forward looking statements, except as required by law.
Source: Ensco plc