for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Funds News

Ensco Rowan investor seeks $2.5 billion dividend payout

June 12 (Reuters) - Deep-sea oil driller Ensco Rowan’s investor Luminus Management LLC on Wednesday urged the company to declare a special dividend of $2.5 billion to its shareholders, sending its shares down 6.3%.

Luminus, the investment advisor to funds and accounts that own 4.5% stake in Ensco Rowan, said it is disappointed by the stock’s performance both before, and since, the Ensco-Rowan merger.

Luminus urged the company to launch a priority guaranteed bond offering to fund the dividend.

Ensco Rowan’s shares fell to their lowest in more than 26 years on Wednesday. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Shailesh Kuber)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up