Also Declares Regular Cash Dividend of $0.125 Per Share
Diamond Offshore Drilling, Inc. (NYSE:DO) announced today that
the Company has declared a special cash dividend of $1.875 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 1, 2009 to
shareholders of record on August 3, 2009.
The Company has adopted a 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 which 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.
Diamond Offshore provides contract drilling services to the energy
industry around the globe and is a leader in deepwater drilling.
Additional information on Diamond Offshore Drilling, Inc. and access to
the Company’s SEC filings is available on the Internet at www.diamondoffshore.com.
Statements in this press release may contain “forward-looking
statements” within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Such statements may include, but are not limited to,
statements concerning future dividends, earnings, future cash flows,
market conditions, future market improvements, future growth in demand
for equipment types or in any region and future contracts. Such
statements are inherently subject to a variety of risks and
uncertainties that could cause actual results to differ materially from
those anticipated or projected. A discussion of additional risk factors
that could impact these areas and the Company’s overall business and
financial performance can be found in the Company's reports and other
filings with the Securities and Exchange Commission. These factors
include, among others, general economic and business conditions,
casualty losses, industry fleet capacity, changes in foreign and
domestic oil and gas exploration and production activity, competition,
changes in foreign, political, social and economic conditions,
regulatory initiatives and compliance with governmental regulations,
customer preferences and various other matters, many of which are beyond
the Company’s control. Given these concerns, investors and analysts
should not place undue reliance on forward-looking statements. Each
forward-looking statement speaks 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.
Diamond Offshore Drilling, Inc.
Director, Investor
Relations
Les Van Dyke, 281-492-5370
