Nabors Initiates First Quarterly Cash Dividend

HAMILTON, Bermuda, Feb. 27, 2013 /CNW/ - Nabors Industries Ltd. (NYSE:NBR) 
today announced that its Board of Directors has approved the initiation of a 
quarterly cash dividend.  A dividend of $0.04 per common share will be paid on 
March 28, 2013, to shareholders of record at the close of business on March 
11, 2013. 
Tony Petrello, Nabors' Chairman and CEO, commented, "The Board's initiation of 
a dividend reflects the financial strength of the Company and our commitment 
to return value to our shareholders.   As we discussed when we announced our 
recent fourth-quarter earnings, we are making good progress toward our 
strategic objectives, including reducing debt and improving our overall 
liquidity.  The Company's strong cash flow generation gives us the ability to 
take steps to deliver value to shareholders while also maintaining the right 
level of capital investment in new technologies and other items that will 
enable us to grow the business over the long term." 
Amounts and timing of future dividends are subject to approval by Nabors' 
Board and will depend on future business conditions, financial conditions, 
results of operations and other factors. 
The Nabors companies actively market approximately 474 land drilling rigs 
throughout the world and approximately 548 land workover and well servicing 
rigs in North America.  Nabors' actively marketed offshore fleet consists of 
36 platform rigs, 12 jackup units and 4 barge rigs in the United States and 
multiple international markets. In addition, Nabors is one of the largest 
providers of hydraulic fracturing, cementing, nitrogen and acid pressure 
pumping services with approximately 805,000 hydraulic horsepower currently in 
service.  Nabors also manufactures top drives and drilling instrumentation 
systems and provides comprehensive oilfield hauling, engineering, civil 
construction, logistics, and facilities maintenance and project management 
services.  Nabors participates in most of the significant oil and gas markets 
in the world. 
For further information, please contact Dennis A. Smith, Director of Corporate 
Development & Investor Relations, at 281-775-8038. To request investor 
materials, contact Nabors' corporate headquarters in Hamilton, Bermuda at 
441-292-1510 or via email at mark.andrews@nabors.com. 
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SOURCE: Nabors Industries Ltd. 
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CO: Nabors Industries Ltd.
NI: OIL UTI DIV  
-0- Feb/27/2013 21:03 GMT
 
 
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