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NOBLE DRILLING DECLARES DIVIDEND ON PREFERRED STOCK

 NOBLE DRILLING DECLARES DIVIDEND ON PREFERRED STOCK
 HOUSTON, Dec. 9 /PRNewswire/ -- The board of directors of Noble Drilling Corp. (NASDAQ: NDCO) today declared the initial quarterly dividend of $.5625 per share on the company's $2.25 Convertible Exchangeable Preferred Stock, payable on Dec. 31, 1991, to holders of record of the Preferred Stock at the close of business on Dec. 20, 1991. The company has successfully completed the public offering of an aggregate of 2,990,000 shares of the Preferred Stock , of which 2,600,000 shares were first issued on Nov. 21, 1991, and 390,000 shares were first issued (to cover underwriters' over-allotments) on Dec. 2, 1991. In accordance with the terms of the Preferred Stock, the amount of the dividend payable for the initial dividend period will be computed on the basis of a 360-day year of 12 30-day months and from the date of first issuance.
 Noble Drilling Corp. is a major drilling contractor with a fleet of 25 offshore units and 62 land units, plus 17 labor contracts. The company currently has operations in the United States, Canada, the United Kingdom, Africa, the Middle East and the Far East. The company's outstanding Common Stock and Preferred Stock are traded in the NASDAQ/NMS under the symbols NDCO and NDCOP, respectively.
 -0- 12/9/91
 /CONTACT: Byron Welliver of Noble Drilling Corp., 713-974-3131/
 (NDCO) CO: Noble Drilling Corp. ST: Texax IN: OIL SU: DIV


RM -- SF007 -- 2225 12/09/91 12:14 EST
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Publication:PR Newswire
Date:Dec 9, 1991
Words:248
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