Rowan Declares Special Dividend
Rowan Companies, Inc. (NYSE: RDC) announced that its Board of Directors has declared a special cash dividend of $.25 per share of Common Stock payable on September 1, 2005 to shareholders of record on August 17, 2005.
Danny McNease, Chairman and Chief Executive Officer, commented, "Over the past several months, we have sold or announced the sale of certain non-core assets. This special dividend provides our shareholders with a portion of the proceeds from these sales."
Rowan Companies, Inc. is a major provider of international and
domestic offshore contract drilling services. The Company also
operates a mini-steel mill, a manufacturing facility that produces
heavy equipment for the mining and timber industries, and a drilling
products division that has designed or built about one-third of all
mobile offshore jack-up drilling rigs, including all 24 operated by
the Company. The Company's stock is traded on the New York Stock
Exchange and the Pacific Exchange - Stock & Options. Common Stock
trading symbol: RDC.