Diamond Offshore ( DO) is global offshore oil and gas drilling contractor specializing in deep water projects. The company has struggled along with the rest of the oil and gas services complex in the last year as the weakness in Europe has resulted in lower commodity prices and a stronger U.S. dollar. Brent crude oil is trading at 52-week lows and shows no signs of rebounding anytime soon. But Diamond Offshore is controlled by a very savvy group of investors, the Tisch family, with James Tisch in place as the company's chairman. Loews ( L) owns a majority of Diamond Offshore stock. >>5 Energy Stocks T. Boone Pickens Loves Right Now What is interesting about Diamond Offshore is the two-tiered dividend structure that the company pays out to shareholders. The regular dividend of 12.5 cents per share per quarter, or 50 cents per share annually, has been paid since 2005, as reported by most market data sources. However, what is typically not reflected by many of these information sources is the additional special cash dividend that Diamond Offshore has paid on an annual basis since 2006. This amounted to another $3 in the past year. When you combine both dividends, you get a yield of 5.9% and a payout of 82.7%.