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Stock impact report

Equinor cuts dividend by two-thirds after oil price crash [Reuters]

Equinor ASA (EQNR) 
Last equinor asa earnings: 2/6 12:43 am Check Earnings Report
Company Research Source: Reuters
Equinor cuts dividend by two-thirds after oil price crash OSLO (Reuters) - Norway’s Equinor is cutting its quarterly dividend by two-thirds as part of an effort to preserve cash, making it the first major oil company to slash shareholder payouts following the collapse in crude prices. Equinor’s decision breaks a long-standing industry taboo. For years, the world’s biggest oil companies have avoided cutting dividends come what may to keep investors sweet and instead raised debt when necessary to maintain spending. “Equinor has already taken forceful actions to strengthen our liquidity and financial resilience under the current circumstances,” Chief Executive Eldar Saetre said on Thursday. “In this extraordinary market situation, we have now also decided to reduce the cash dividend for the first quarter 2020 by 67%, compared to the proposed fourth quarter 2019 dividend,” he said in a statement. Equinor’s first-quarter cash dividend will be $0.09, down from $0.27 in the final quarter of Show less Read more
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