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Transocean chairman voted out, $2.24/share dividend backed

ZUG, Switzerland (Reuters) - Transocean Ltd shareholders voted out Chairman Michael Talbert at the annual meeting on Friday and backed a nominee of activist investor Carl Icahn to replace him on the board of the world's largest offshore drilling contractor.But shareholders rejected Icahn's proposed $4-per-share dividend and opted instead for the board-supported payout of $2.24 per share, the Switzerland-based company said.Transocean shares closed down 1.3 percent to $54.03 on the New York Stock Exchange. The Swiss shares closed 1.4 percent higher.Icahn, after disclosing his 5.6 percent Transocean stake in January, campaigned to shake up the board and extract a higher dividend that Transocean called "unsustainable," while offering the $2.24 per share in response.Icahn and Transocean spent the past few months making their cases to investors by attacking the others' director nominees and strategic plans. Transocean viewed the near-80 percent shareholder support for its dividend, and the b...

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  1. Proxy Clash Over at Hess

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