Italian energy contractor Saipem , which has agreed to merge with Norwegian rival Subsea 7 , said on Tuesday it would resume paying a dividend after a four-year break.

Italian energy-services provider Saipem will merge with Norwegian rival Subsea7 creating a company focused on drilling, engineering and construction.

Italian offshore services firm Saipem plans to merge with Norwegian rival Subsea7 in an all-share deal valued at $4.6 million, the companies announced. The combined company, to be named Saipem7, would