Leading oilfield services company SLB (NYSE: SLB) continues to see an uptick in demand for its drilling services and equipment, fueled by strong oil and gas market conditions. This improvement enabled the company to produce excellent fourth-quarter results.
Those market conditions also gave the company the cash flow and confidence to boost its dividend again. Here's a closer look at the oilfield service company's quarter and upsized dividend payment .
SLB, formerly Schlumberger, recently posted excellent fourth-quarter results. The world leader in providing oilfield services hauled in $7.9 billion of revenue during the period. That was 5% higher than the third quarter and up 27% from the year-ago period. Meanwhile, the company posted earnings of $0.74 per share, up 17% sequentially and 76% from the prior year period. The company generated $1.6 billion of cash flow from operations in the quarter and roughly $900 million of free cash flow.
For further details see:
This Oil Stock Is Supersizing Its Dividend Again. Is It Time for Income Investors to Buy?