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Capital Drilling Ltd chair hails “exceptionally strong” cash flow in 2015

Jamie Boyton, chairman of Capital Drilling Ltd (LON:CAPD), says the company’s 32% rise in its final dividend for the year is “a very strong message”.

He adds that “whilst the reported numbers are looking weak, the underlying cash flow is exceptionally strong and the balance sheet is strong,” which is allowing the company to be able to make these pay-outs to shareholders.

Capital Drilling reported revenue fell for the third year in a row due to the on-going slump in global commodity markets, but it also revealed that operating cash flow was higher for the third consecutive year, while the company also achieved the highest positive free cash flow in its history.

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