NEW YORK (

TheStreet

) -- The ex-dividend date for

Transocean

(NYSE:

RIG

) is tomorrow, August 24, 2011. Owners of shares as of market close today will be eligible for a dividend of 79 cents per share. At a price of $50.56 as of 10:06 a.m. ET, the dividend yield is 6%.

The average volume for Transocean has been 4.6 million shares per day over the past 30 days. Transocean has a market cap of $16.9 billion and is part of the

basic materials

sector and

energy

industry. Shares are down 26% year to date as of the close of trading on Monday.

TheStreet Recommends

Transocean Ltd. provides offshore contract drilling services for oil and gas wells worldwide. It offers deepwater and harsh environment drilling, oil and gas drilling management, and drilling engineering and drilling project management services.

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TheStreet Ratings rates Transocean as a

hold

. The company's strengths can be seen in multiple areas, such as its expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow. You can view the full

Transocean Ratings Report

.

See our

dividend calendar

or

top-yielding stocks list

.

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