The Board approved a dividend distribution payable in Q2 2016 of USD 0.10 per share. The share will trade ex-dividend on 24 May 2016, the record date is 25 May 2016 and the payment date is on or around 24 June 2016.Dividend for previous quarter was USD 0.25, so this is again a disappointing decrease from Awilco Drilling. But this was expected as the revenue for the quarter was nil, both rigs are in shipyard. WilPhonenix was in shipyard whole quarter and WilHunter remains hot stacked in Invergordon shipyard.
Yardstay for WilPhonix is now completed and Awilco Drilling considers the rig to be reayd to drill awaiting Apache North Sea Ltd's instructions to resume operations. Apache North Star Ltd. does not agree that the rig is ready to drill, so there is some rough seas ahead for remaining contract.
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