Schlumberger hikes dividend by 3.6%
Schlumberger (SLB) will hike its dividend by 3.6% to 28.5 cents quarterly per share in 2025. This marks the 4th consecutive year of increased dividends by SLB. The current dividend rate however still is half of the record level from 2020, when SLB paid 50 cents quarterly.
On January 16, 2025, SLB’s Board of Directors approved a 3.6% increase in SLB’s quarterly cash dividend from $0.275 per share of outstanding common stock to $0.285 per share, beginning with the dividend payable on April 3, 2025, to stockholders of record on February 5, 2025.
"SLB remains committed to expanding EBITDA margins, generating strong cash flows, and increasing returns to shareholders. Given our confidence in the business outlook and our ability to continue generating strong cash flows, we are pleased to announce that our Board of Directors has approved a 3.6% increase to our quarterly dividend. Additionally, as we believe our stock is undervalued relative to the strength of our business, we entered into accelerated share repurchase (ASR) transactions to repurchase $2.3 billion of our company’s common stock."
The dividend yield for SLB is 2.7% at a stock price of $41.09. The company announced double digit dividend hikes in each of the last three years including a 42.9% hike in 2023.
Schlumberger NV is a provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. The company operates worldwide and provides a range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance sustainably. Schlumberger has paid a quarterly dividend since 1957. The original Schlumberger business was founded in 1926 by the brothers Conrad and Marcel Schlumberger, two French engineers and physicists, to provide wireline logging services (electronic measurement of underground formations) for oil drilling operations. Schlumberger incorporated was incorporated on November 6, 1956 in the Netherlands Antilles.
