Item 7.01 Regulation FD Disclosure.
On November 3, 2022, Stephane Biguet, chief financial officer of Schlumberger
Limited ("SLB" or the "Company"), addressed the Company's 2022 Investors
Conference, in person in New York, New York, and simultaneously via virtual
webcast, where he discussed, among other things, SLB's capital allocation plans.
Mr. Biguet's discussion included announcements of the Company's intent to:
• increase SLB's quarterly cash dividend by 43% to $0.25 per share of
outstanding common stock, beginning with the dividend payment in April
2023, as and when declared by SLB's board of directors (the "Board"); and
• resume repurchases under SLB's existing share repurchase program,
commencing in the first quarter of 2023.
The Board plans to formally declare future dividends each quarter, in line with
this announcement.
On October 20, 2022, the Board approved a quarterly cash dividend of $0.175 per
share of outstanding common stock, payable on January 12, 2023, to stockholders
of record on December 7, 2022. Today's announcement does not affect this
previously declared dividend.
In accordance with General Instructions B.2. of Form 8-K, the information in
this Item 7.01 will not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, nor will it be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended, except
as expressly set forth by specific reference in such a filing.
Cautionary Statement Regarding Forward-Looking Statements
This Form 8-K contains "forward-looking statements" within the meaning of the
federal securities laws, which include any statements that are not historical
facts. Forward-looking statements address matters that are, to varying degrees,
uncertain, such as statements about SLB's capital allocation plans, including
planned dividend increases, planned share repurchases, and the timing and
payment of dividends that have not been declared by the Board. These statements
are subject to risks and uncertainties, including, but not limited to,
declaration and approval by the Board, with respect to any undeclared dividends;
changing global economic and geopolitical conditions; changes in exploration and
production spending by our customers, and changes in the level of oil and
natural gas exploration and development; the results of operations and financial
condition of our customers and suppliers; the inability to achieve its financial
and performance targets and other forecasts and expectations; the inability to
achieve our net-zero carbon emissions goals or interim emissions reduction
goals; general economic, geopolitical, and business conditions in key regions of
the world; the ongoing conflict in Ukraine; foreign currency risk; inflation;
changes in monetary policy by governments; pricing pressure; weather and
seasonal factors; unfavorable effects of health pandemics; availability and cost
of raw materials; operational modifications, delays, or cancellations;
challenges in our supply chain; production declines; the extent of future
charges; the inability to recognize efficiencies and other intended benefits
from our business strategies and initiatives, such as digital or new energy; as
well as our cost reduction strategies; changes in government regulations and
regulatory requirements, including those related to offshore oil and gas
exploration, radioactive sources, explosives, chemicals, and climate-related
initiatives; the inability of technology to meet new challenges in exploration;
the competitiveness of alternative energy sources or product substitutes; and
other risks and uncertainties detailed in SLB's most recent Forms 10-K, 10-Q,
and 8-K filed with or furnished to the SEC. If one or more of these or other
risks or uncertainties materialize (or the consequences of any such development
changes), or should SLB's underlying assumptions prove incorrect, actual results
or outcomes may vary materially from those reflected in the forward-looking
statements. Forward-looking and other statements in the presentations regarding
SLB's environmental, social and other sustainability plans and goals are not an
indication that these statements are necessarily material to investors or
required to be disclosed in SLB's filings with the SEC. In addition, historical,
current, and forward-looking environmental, social and sustainability-related
statements may be based on standards for measuring progress that are still
developing, internal controls and processes that continue to evolve, and
assumptions that are subject to change in the future. The forward-looking
statements speak only as of November 3, 2022, and SLB disclaims any intention or
obligation to update publicly or revise such statements, whether as a result of
new information, future events or otherwise.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses