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Thndr Claps » U.S. Claps » Energy 🔋 » Higher profits for Schlumberger mean higher dividends for shareholders📈

Higher profits for Schlumberger mean higher dividends for shareholders📈

by Shams Abbas
April 25, 2022

The Clap

Leading oilfield services company Schlumberger (NYSE: SLB) reported higher profits in Q1-2022, & as a result announced a higher dividend payout.

The drivers

Schlumberger is the world’s largest offshore driller, & its quarterly revenues were boosted as a result of increased drilling in Latin American countries. 

Why this matters

Schlumberger is enjoying a period of strengthened pricing power due to an increase in global activity “for every division,” said its CEO. The company expects higher profit margins throughout the rest of 2022 due to “elevated commodity prices, demand-led activity growth, & energy security.”

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