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Oil companies cutting dividends to preserve cash

Shareholders estimated to lose more than US$7.4b in income this year; quarterly payments unlikely to be restored any time soon even if energy prices rebound
Friday, March 18, 2016 - 05:50

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Bludgeoned by falling energy prices, at least a dozen oil and natural gas companies have opted to cut dividends this year to preserve cash, cannibalising payouts considered sacrosanct by many investors.

New York

Bludgeoned by falling energy prices, at least a dozen oil and natural gas companies have opted to cut dividends this year to preserve cash, cannibalising payouts considered sacrosanct by many investors.

The cost to shareholders: more than US$7.4 billion in lost income,

sentifi.com

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