Dividends4Life: One of the Best Dividend Stocks Just Got Even Better

Dividend Growth Stocks News

As the largest deepwater driller based on market cap and one of the best dividend stocks out there, a lot was riding on Seadrill’s (SDRL) latest earnings report. That was especially true after good quarterly numbers came from rivals Transocean (RIG) and Noble (NBL). Deepwater drilling has been a cash cow for firms like SDRL, RIG and NBL as day rates for the most state of the art deepwater drilling rigs continue to command $600,000.

But unfortunately for investors in SDRL stock, the mixed bag that Seadrill reported hasn’t been too pleasing on the portfolio. Seadrill was already one of the best dividend stocks (with a yield of 8.8%) and boosted its payout … but the market isn’t too happy with the dividend stock’s outlook. However, the short-term pain in SDRL stock could be the one of the best buying opportunities for investors looking for high-yielding stocks. Overall, the dour Seadrill earnings should prove to be temporary as deepwater drilling continues in spades.

Source: InvestorPlace

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