By Anna Prior
The board of oil-field services company Schlumberger Ltd. raised
company's quarterly dividend by 28% on Thursday.
Schlumberger's quarterly increase to 40 cents a share will
increase the annual rate to $1.60 a share, from $1.25.
The company has reported strong revenue growth in recent years
as ramped-up activity in areas such as Canada and the deepwater
U.S. Gulf of Mexico helped offset onshore North America revenue
weakness.
Schlumberger in October reported third-quarter profit climbed
20% on particularly strong oil-field services revenue in the Middle
East and Asia region, driven by growth in Saudi Arabia and
Iraq.
Shares edged up 15 cents to $88.76 in after-hours trading.
Through Thursday's close, the stock has risen 21% in the last 12
months.
Write to Anna Prior at anna.prior@wsj.com
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