Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
McDermott International Ltd. is a global engineering, procurement, construction, and installation (EPCI) company serving the energy industry, with a primary focus on offshore and onshore infrastructure for oil and gas, liquefied natural gas (LNG), and petrochemical projects. The company operates within the energy infrastructure and industrial engineering sectors, delivering complex project execution services across the full project lifecycle from concept and design through fabrication, installation, and commissioning.
The company’s core revenue drivers are large-scale EPCI contracts, particularly in offshore oil and gas developments, subsea infrastructure, and LNG facilities. McDermott International Ltd. traces its origins to J. Ray McDermott, founded in 1923, and expanded significantly through organic growth and acquisitions, including the acquisition of Chicago Bridge & Iron Company (CB&I) in 2018. Following severe financial distress related to fixed-price project overruns, the company filed for Chapter 11 bankruptcy protection in 2020 and emerged later that year as a privately held entity owned by a consortium of former creditors. The ticker symbol MCDIF reflects legacy public equity, and publicly traded common equity was effectively rendered valueless as part of the restructuring.
Business Operations
The company operates through integrated business lines encompassing Offshore EPCI, Subsea and Floating Facilities, Onshore LNG and Petrochemical Infrastructure, and Technology-Enabled Engineering Services. Revenue is generated primarily through long-term, project-based contracts with national oil companies, international oil majors, and petrochemical producers. The company maintains engineering centers, fabrication yards, and marine assets that support complex offshore installations and large modular construction projects.
Operations are global in scope, with a combination of wholly owned subsidiaries and operating entities, including legacy CB&I operations that specialize in storage tanks and onshore energy infrastructure. McDermott International Ltd. also maintains strategic technology and fabrication capabilities that support deepwater developments and LNG facilities. Data on specific joint ventures varies by project, and some partnership arrangements are not fully disclosed in public sources; where this occurs, data is inconclusive based on available public sources.
Strategic Position & Investments
Strategically, McDermott International Ltd. has focused on stabilizing operations post-restructuring, prioritizing disciplined project selection, risk management, and capital-light execution models. Growth initiatives have centered on selective participation in offshore and LNG projects, leveraging proprietary installation capabilities and established customer relationships rather than pursuing aggressive expansion.
Since emerging from bankruptcy, the company has not announced major acquisitions comparable to the CB&I transaction. Instead, strategic investments have emphasized operational efficiency, digital engineering tools, and execution excellence in complex offshore environments. The company remains active in energy transition-adjacent areas such as gas infrastructure and lower-carbon LNG developments, though involvement in renewable energy sectors remains limited and not clearly material based on public disclosures.
Geographic Footprint
McDermott International Ltd. is headquartered in Houston, Texas, and maintains a global operational footprint spanning North America, Middle East, Asia-Pacific, Europe, and Latin America. The company has a particularly strong presence in the Middle East through long-standing relationships with national oil companies and participation in offshore and onshore energy infrastructure projects.
Fabrication yards, engineering offices, and project execution teams are distributed across multiple continents, enabling the company to support large-scale international developments. Its international influence is primarily operational rather than investment-driven, with activities concentrated in regions with sustained offshore and LNG capital expenditure.
Leadership & Governance
Following its 2020 restructuring, McDermott International Ltd. operates as a privately held company governed by a board representing its ownership group. Leadership has emphasized financial discipline, operational reliability, and restoring credibility with customers after the bankruptcy process.
Key executives include:
- Mike Sutherland – President and Chief Executive Officer
- David Dickson – Executive Vice President, Chief Financial Officer
- Maurice Nessim – Executive Vice President, Strategy and Development
- Joe Corbetta – Senior Vice President, Offshore Operations
The leadership team’s strategic vision centers on executing fewer but higher-quality projects, strengthening risk controls, and leveraging the company’s engineering and offshore construction heritage to generate sustainable returns.