NEW YORK (TheStreet) -- Shares of Transocean Ltd (RIG) are up 5.08% to $28.74 today after the company announced the schedule for the payment of the third installment of its U.S. dollar denominated dividend.
The international provider of offshore contract drilling services for oil and gas wells said the installment is 75 cents per share, totaling approximately $272 million, based upon the number of currently outstanding shares.
The installment represents the third of four quarterly installments totaling $3 per share, or approximately $1.1 billion in the aggregate, the company said, detailing the following 2014 dividend schedule: November 12 ex-dividend date, November 14 record date, December 17 installment payment date.
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Separately, TheStreet Ratings team rates TRANSOCEAN LTD as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRANSOCEAN LTD (RIG) a HOLD. The primary factors that have impacted our rating are mixed--some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, compelling growth in net income and attractive valuation levels. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year."