DCP Midstream to cut dividend in half, with implied yield declining to 37% [MarketWatch]
DCP Midstream, LP Common Units (DCP)
Last dcp midstream, lp common units earnings: 2/11 04:15 pm
Check Earnings Report
US:NYSE Investor Relations:
ir.dcppartners.com
Company Research
Source: MarketWatch
DCP Midstream to cut dividend in half, with implied yield declining to 37% DCP Midstream L.P. DCP, +27.54% said Monday it will cut its dividend in half, with the quarterly dividend falling to 39 cents a share starting with the first-quarter dividend, payable in May. Based on Friday's stock closing price of $4.26, the new annual dividend rate implies a dividend yield of 36.62%, compared with the implied yield for the S&P 500 SPX, -4.34% of 2.64%. The natural gas production company said the move to cut its dividend, in response to the volatile market conditions, will save it $325 million, which will be used to pay down debt. The company also said it will reduce its 2020 capital growth program by 75% to $150 million. The company currently has about $500 million in liquidity and expects to have $700 million to $1 billion in liquidity as the end of 2020. The stock, which is still inactive in premarket trading, has plummeted 77.8% over the past month, while natural gas futures NG00,
Show less
Read more
Impact Snapshot
Event Time:
DCP
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
DCP alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
DCP alerts
High impacting DCP Midstream, LP Common Units news events
Weekly update
A roundup of the hottest topics