Everyone is saying that Transocean (drill rig builder) and Halliburton (contractor) and BP all share responsibility for the Gulf oil spill. While the costs and damages add up, I find it shameful that Transocean shareholders are still getting ridiculously high dividend payouts. Perhaps some thought should be given to saving and investing in clean up costs.

ZUG, SWITZERLAND, May 12, 2010 (MARKETWIRE via COMTEX) --Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced the applicable exchange rate to determine the Swiss franc ("CHF") amount of the proposed cash distribution to shareholders in the form of a par value reduction equal to USD 3.11 per issued share (including treasury shares) to be calculated and paid in four quarterly installments.

The exchange rate as determined by the Board in its discretion is CHF 1.10 per one USD. The definitive CHF per issued share aggregate capital reduction amount equal to USD 3.11 is CHF 3.44 (rounded up to the nearest even 0.01 of a CHF that is divisible by four), and the definitive CHF per issued share quarterly capital reduction amount is CHF 0.86.