Borr Drilling Limited (NYSE:BORR) Declares Quarterly Dividend of $0.02

Borr Drilling Limited (NYSE:BORR) announced a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.02 per share on Monday, December 16th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, November 29th.

Borr Drilling Stock Down 2.7 %

Shares of BORR stock opened at $3.96 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.75. The firm’s 50-day moving average is $5.15 and its 200-day moving average is $5.86. Borr Drilling has a 52-week low of $3.76 and a 52-week high of $7.61.

Borr Drilling (NYSE:BORR) last issued its earnings results on Wednesday, November 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The firm had revenue of $241.60 million during the quarter. Borr Drilling had a net margin of 8.70% and a return on equity of 8.50%.

Wall Street Analyst Weigh In

Separately, Evercore ISI raised shares of Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 target price on the stock in a report on Friday, September 13th.

About Borr Drilling

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.