Suprise Dividend Increase -- Russian Isolation Spurring Driilling Elsewhere -- Schlumberger -- April 23, 2022

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Link here.

The world’s biggest oilfield-services provider announced a surprise dividend increase and surpassed Wall Street profit forecasts on Friday. The 40% dividend hike was Schlumberger’s first payout increase since 2015.

This was so unexpected -- and apparently overlooked / missed -- that this dividend increase has not yet been noted by MarketBeat/dividends. 

The quarterly dividend has been increased from 12.5 cents to 17.5 cents. Whoo-hoo.

First-quarter profit of 34 cents a share, excluding certain items, was a penny higher than the media of analysts’ estimates. 

Sales climbed the most since late 2017 to almost $6 billion as Schlumberger reaped the rewards of a sweeping, post-pandemic revival in energy consumption and production. The sales bonanza was driven by work in the U.S. and Canada, where the company saw revenue surge by almost one-third.

Not ready-for-prime-time, in an e-mail to a reader:

Most amazing for me: Schlumberger increased its dividend by 40%. I've accumulated a lot of Schlumberger over the years. Probably one of my worst performers in the past ten years but dividends were always re-invested.

But good, bad, or indifferent, I have a lot of shares with cost basis so low compared to current value it would be crazy to sell, I suppose, and then on top of that, the dividend stream.

When the portfolio is passed on to the two daughters / five grandchildren I doubt anyone will criticize me for how much I paid for shares. And if they do, I won't be around to hear them. LOL. They will have a very nice dividend revenue stream.

I stopped all automatic dividend reinvestment about a year ago to give me more flexibility. The bad news: the automatic dividend reinvestment forced me to be very disciplined. But I still reinvest all dividends.

But the real reason I assume folks enroll in DRIPS in the old days, no commission fees. Now, that's no longer a reason for DRIPS.

I guess the "D" in DRIPS reminds investors to stay "disciplined."

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.