HOUSTON, July 24, 2014 /PRNewswire/ -- Diamond
Offshore Drilling, Inc. (NYSE: DO) announced today that the Company
has declared a special quarterly cash dividend of $0.75 per share of common stock and a regular
quarterly cash dividend of $0.125 per
share of common stock. Both dividends are payable on
September 2, 2014 to shareholders of
record on August 6, 2014.
The Board reiterated its stated policy of considering paying
special cash dividends, in amounts to be determined, on a quarterly
basis. Any determination to declare a special dividend, as
well as the amount of any special dividend that may be declared,
will be based on the Company's financial position, earnings,
earnings outlook, capital spending plans and other relevant factors
at that time.
ABOUT DIAMOND OFFSHORE
Diamond Offshore is a leader in offshore drilling, providing
contract drilling services to the energy industry around the globe
with a total fleet of 44 offshore drilling rigs, including five
rigs under construction. Diamond Offshore's fleet consists of
33 semisubmersibles, two of which are under construction, five
dynamically positioned drillships, three of which are under
construction, and six jack-ups. Additional information about the
Company and access to the Company's SEC filings are available at
www.diamondoffshore.com. Diamond Offshore is owned 51% by Loews
Corporation (NYSE: L).
FORWARD-LOOKING STATEMENTS
Statements contained in this press release which are not
historical facts are "forward-looking statements" within the
meaning of the federal securities laws. Forward-looking statements
are inherently uncertain and subject to a variety of risks that
could cause actual results to differ materially from those expected
by management of the Company. A discussion of the important risk
factors and other considerations that could materially impact these
matters as well as the Company's overall business and financial
performance can be found in the Company's reports filed with the
Securities and Exchange Commission and readers of this release are
urged to review those reports carefully when considering these
forward-looking statements. Copies of these reports are available
through the Company's website www.diamondoffshore.com. Given these
risk factors, investors and analysts should not place undue
reliance on forward-looking statements. Any such forward-looking
statements speak only as of the date of this press release. The
Company expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statement to reflect any change in the Company's expectations with
regard thereto or any change in events, conditions or circumstances
on which any forward-looking statement is based.
Contact:
Darren Daugherty
Director, Investor Relations
(281) 492-5370
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SOURCE Diamond Offshore Drilling, Inc.