Transocean proposes $2.24/share dividend

摘要

Houston—Contract driller Transocean said March 4 that its board has recommended a shareholder dividend of $2.24/share—lower than the $4/share billionaire activist Carl Icahn had proposed—although the driller left open the possibility of raising it in the future if conditions warranted. Icahn fought back in an amended securities filing, saying that Transocean’s proposed amount “highlights a long track record of weak capital allocation strategy and their announcement will not deter us from proposing a $4 dividend” at the annual meeting coming up in May.