Carl Icahn Still Holds Nearly 6% of Transocean, Reveals New Dividend Vote Coming

In a newly amended 13D filing with the SEC this morning, Carl Icahn disclosed maintaining a 5.96% stake in Transocean LTD (NYSE:RIG). The real purpose of the filing is to report that Transocean shareholders will have the right to vote for a $3/share dividend in a meeting next year. The energy company currently pays dividends of $2.24/share, and nixed Icahn's $4/share proposal earlier this year. If shareholders do vote for an increased dividend, it would cost Transocean approximately $1.1 billion.


Carl Icahn as viking


Disclosure: none

Recommended Reading:

Ken Griffin, Citadel Disclose New Positions in Norcraft Companies & JGWPT Holdings

Activist Tom Sandell Sends Letter to Bob Evans, Maintains 5.1% Stake

Keep An Eye On George Soros’ New Micro-Cap Investment

Sign Up

Get the InvestingChannel
Free e-Letter Today

Learn More

Independent market opinion, analysis and ideas - delivered every business day

Premium market opinions, analysis, and ideas - delivered every business day

Editor's Picks