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

Borr Drilling Limited (NYSE:BORR) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be given 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 is Friday, November 29th.

Borr Drilling Stock Performance

Shares of Borr Drilling stock traded down $0.10 on Friday, hitting $3.97. The company’s stock had a trading volume of 7,485,685 shares, compared to its average volume of 2,100,005. Borr Drilling has a 52-week low of $3.76 and a 52-week high of $7.61. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a fifty day moving average price of $5.19 and a 200-day moving average price of $5.88.

Borr Drilling (NYSE:BORR) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05). Borr Drilling had a return on equity of 7.69% and a net margin of 8.15%. The firm had revenue of $241.60 million for the quarter.

Analyst Upgrades and Downgrades

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