Ensco Plc announces Cash Dividend & Stock Repurchase program

Ensco DrillingEnsco-logo

Dear PGM Capital Blog readers,

On Monday May 20th 2013, Ensco PLC, (NYSE: ESV) announced that its Board of Directors has declared a regular quarterly cash dividend of US$0.50 per Class A ordinary share payable on 21 June 2013 to holders of Ensco’s shares as of the 10 June 2013 record date.

  • The current dividend annualizes to an even US$2.00 per share, that yields 3.2% at Ensco’s today’s (May 21st 2013) closing stock price of US$63.37.

Source:

The company recently announced the authorization of a US$2 billion shares repurchase program of the Class A ordinary shares and a regular dividend payment.

Since January 2010, based on the company’s; business module, price to earnings ratio, strong balancesheet, and dividend yield we have a BUY rating on the stock.

As can be seen from below all-time chart, the company, besides paying a regular and increasing dividend, Ensco Plc, has created great share holder’s value for its share holders.

Ensco Plc All time Chart May 21 2011

Before following any investing advice, always take your investment horizon and risk tolerance into consideration and keep in mind that the price of Crude Oil as well as the stocks of their producers and service companies can be very volatile and that sharp corrections may happen in the short term.

Yours Sincerely,

Eric Panneflek

 

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