Seadrill: There Goes the Dividend

Earlier this week, we noted Morgan Stanley’s warning that Seadrill (SDRL) could cut its dividend today. I’m not sure anyone quite expected this. Seadrill, while announcing its financial results for the third quarter, suspended its dividend. As in gone. No more. Cowen’s J.B. Lowe and Roland Morris call the move “unexpected.” They explain: After previously [...]