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Hedge Funds-News

Carl Icahn Still Holds Nearly 6% of Transocean, Reveals New Dividend Vote Coming

Published on November 12, 2013 at 9:38 am by Jake Mann in Hedge Funds,News

In a newly amended 13D filing with the SEC this morning, Carl Icahn disclosed maintaining a 5.96% stake in Transocean LTD (NYSE:RIG). The real purpose of the filing is to report that Transocean shareholders will have the right to vote for a $3/share dividend in a meeting next year. The energy company currently pays dividends of $2.24/share, and nixed Icahn’s $4/share proposal earlier this year. If shareholders do vote for an increased dividend, it would cost Transocean approximately $1.1 billion.

Carl Icahn as viking

Disclosure: none

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