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Stock impact report

Equinor cuts first-quarter dividend by 67% amid 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 first-quarter dividend by 67% amid oil price crash OSLO (Reuters) - Norwegian oil firm Equinor will cut its quarterly dividend payment by two-thirds as part of an effort to preserve cash amid the collapse in crude prices, it said on Thursday. The first-quarter cash payout to shareholders will be $0.09 per share, down from $0.27 in the fourth quarter of 2019, it added. The company recently announced plans to cut investments, exploration drilling and operating costs by around $3 billion to help weather the crisis. The company last month also suspended its $5 billion 2019-2022 share buyback plan and on April 1 raised $5 billion in a bond issue. “The purpose of the combined efforts, including a reduction in dividend, is to secure balance sheet capacity, strengthen liquidity and support continued investments in a high-quality project portfolio,” Equinor said. “This provides for long term competitive growth and shareholder value,” it added. Show less Read more
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