Seadrill Declines Most in 2 1/2 Years as Dividend Growth Paused
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Seadrill Ltd, the world’s biggest drilling company, fell the most in 2 1/2 years after postponing plans to boost its dividend and warning that the rig market will grow slower than expected as oil companies scale back spending.
The London-based company, controlled by billionaire John Fredriksen, fell as much as 7.8 percent, the most since Aug. 8, 2011, and traded 6.3 percent lower at 213.5 kroner as of 3:50 p.m. in Oslo. About 3.5 million shares had been traded so far today, almost four times the average daily volume during the past three months.