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Stock impact report

Can Cameco Corp.'s Dividend Even Survive? [The Motley Fool]

Cameco Corporation (CCJ) 
Last cameco corporation earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: cameco.com/invest
Company Research Source: The Motley Fool
Management wisely slashed the payout in 2017, but uranium prices are off to an even worse start in 2018. In early November 2017, management at Cameco Corp ( NYSE:CCJ ) announced the widely expected decision to slash the annual dividend paid to shareholders from about $0.31 per share to about $0.06 per share. It was yet another move by the uranium miner to preserve cash and weather out the storm, and was announced simultaneously with the decision to temporarily suspend operations at two of its largest mines. About 84% of the workers at those locations were laid off, although the mines are expected to come back on line after 10 months.  While slashing the dividend wasn't fun for shareholders, it will save Cameco about $99 million in annual payments. In comparison, the current distribution amounts to just $25 million in annual payments. That should be manageable for the uranium miner in the year ahead, which ended 2017 with $469 million in cash and short-term investmen Show less Read more
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