Yahoo Finance Noble Corp PLC's Dividend Analysis
Exploring the Sustainability and Growth of Noble Corp PLC's Dividends
Noble Corp PLC (NYSE:NE) recently announced a dividend of $0.4 per share, payable on 2024-06-27, with the ex-dividend date set for 2024-06-06. As investors look forward to this upcoming payment, the spotlight also shines on the company's dividend history, yield, and growth rates. Using the data from GuruFocus, let's look into Noble Corp PLC's dividend performance and assess its sustainability.
What Does Noble Corp PLC Do?
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Noble Corp PLC is an offshore drilling contractor for the oil and gas industry that provides contract drilling services to the international oil and gas industry with its fleet of mobile offshore drilling units. The company focuses on a high-specification fleet of floating and jackup rigs and the deployment of its drilling rigs in oil and gas basins around the world.
A Glimpse at Noble Corp PLC's Dividend History
Noble Corp PLC has maintained a consistent dividend payment record since 2023. Dividends are currently distributed on a quarterly basis.
Noble Corp PLC has increased its dividend each year since -. The stock is thus listed as a dividend king, an honor that is given to companies that have increased their dividend each year for at least the past 2024 years. Below is a chart showing annual Dividends Per Share for tracking historical trends.
Breaking Down Noble Corp PLC's Dividend Yield and Growth
As of today, Noble Corp PLC currently has a 12-month trailing dividend yield of 2.58% and a 12-month forward dividend yield of 3.77%. This suggests an expectation of increased dividend payments over the next 12 months.
Noble Corp PLC's dividend yield of 2.58% is near a 10-year high and outperforms than 27.05 of global competitors in the Oil & Gas industry, suggesting that the company's dividend yield stands out as an attractive proposition for income investors.
The Sustainability Question: Payout Ratio and Profitability
To assess the sustainability of the dividend, one needs to evaluate the company's payout ratio. The dividend payout ratio provides insights into the portion of earnings the company distributes as dividends. A lower ratio suggests that the company retains a significant part of its earnings, thereby ensuring the availability of funds for future growth and unexpected downturns. As of 2024-03-31, Noble Corp PLC's dividend payout ratio is 0.34.
Noble Corp PLC's profitability rank, offers an understanding of the company's earnings prowess relative to its peers. GuruFocus ranks Noble Corp PLC's profitability 4 out of 10 as of 2024-03-31, suggesting the dividend may not be sustainable. The company has reported net profit in 2 years out of past 10 years.
Growth Metrics: The Future Outlook
To ensure the sustainability of dividends, a company must have robust growth metrics. Noble Corp PLC's growth rank of 4 out of 10 suggests that the company has poor growth prospects and thus, the dividend may not be sustainable.
Revenue is the lifeblood of any company, and Noble Corp PLC's revenue per share, combined with the 3-year revenue growth rate, indicates a strong revenue model. Noble Corp PLC's revenue has increased by approximately 14.60% per year on average, a rate that underperforms than approximately 54.91% of global competitors.
Conclusion: Evaluating Noble Corp PLC's Dividend Future
Considering Noble Corp PLC's consistent dividend history, attractive yield, and the strategic management of its payout ratio, the company presents a compelling case for dividend investors. However, the concerns around its profitability and growth metrics suggest that investors should keep an eye on future earnings reports and industry trends. For those looking to explore further, GuruFocus Premium users can screen for high-dividend yield stocks using the High Dividend Yield Screener.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
