Although their dividend yields may be lower than the market average, both Nabors Industries Ltd. (NYSE:NBR) and Helmerich & Payne, Inc. (NYSE:HP) are easily able to cover their payouts with cash available, indeed, they also have cash to spare and are paying down debt.
Elsewhere ENSCO PLC (NYSE:ESV)’s higher-than-average yield is also well covered and offers investors an income play in the drilling market. Additionally, the company is paying down debt and could have cash available for further shareholder returns.
Fool contributor Rupert Hargreaves has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.
The article How Safe Are the Dividends of These 3 Oil Drillers? originally appeared on Fool.com.
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