Just Energy Announces Senior Debt Covenant Amendment and Suspension of the Dividend on its Series A Preferred Shares [Canadian Business Journal (Canada)]
JUST ENERGY GROUP (JE)
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Source: Canadian Business Journal
Just Energy Announces Senior Debt Covenant Amendment and Suspension of the Dividend on its Series A Preferred Shares, The Canadian Business Journal TORONTO, Dec. 02, 2019 (GLOBE NEWSWIRE) — Just Energy Group Inc. (“ Company JE In connection with the amendments, the agreements governing both facilities have been changed to restrict the declaration and payment of dividends on the Company’s 8.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares (“Series A Preferred Shares”) until the Company’s senior debt to EBITDA ratio is no more than 1.50:1 for two consecutive fiscal quarters. Accordingly, the Company is suspending, with immediate effect, the declaration and payment of dividends on the Series A Preferred Shares until the Company is permitted to declare and pay dividends under the agreements governing its facilities. However, dividends on the Series A Preferred Shares will continue to accrue in accordance with Series A Preferred Share terms during the p
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