Monday, May 23, 2011

Transocean shareholders OK $1 billion dividend

Monday, May 23, 2011
Shareholders of Transocean dividend approved $ 1 billion on Friday and a company's backup plan, directors and executive officers for the liability due to last year's Gulf of Mexico oil spill relief rejected.The company said also former Chairman and CEO j. Michael Talbert was Chairman to replace, the retirement of Robert E. Rose.Transocean the deepwater horizon rig, the BP leasing and when an explosion killed 11 workers and created the spill was elected. Both companies face lawsuits.Transocean Board members suggested that even discharge and executives of the company from liability for any actions in 2010, say the practice is common, that companies in the Switzerland, where Transocean is now based. The company has major offices in Houston. Shareholders, who for the proposal voted would be effectively their right to attend shareholders decreased complaints about the rig explosion.The $1 billion dividend will be paid in installments. A previous dividend of shareholders was approved by a Swiss Court last year because of complaints about the oil spill blocked.

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