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Transocean Ltd. (RIG) Jumped To A 10-Month High On Icahn News

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Activist investor Carl Icahn has said that the board of Transocean Ltd. (RIG: Quote) should declare a dividend of at least $4.00 per share. Icahn said if Transocean not declare a dividend of at least $4 per Share, he currently intends to propose a dividend of $4 per Share at the 2013 Annual Meeting, hoping that a majority of shareholders will support it.

Transocean gapped open higher Monday, but traded in a range for the majority of the session. The stock finished with a gain of 1.41 at $58.17 on above average volume. Transocean has been rising for nearly a month and set a 10-month high.

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by RTT Staff Writer

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