Peabody Energy Declares New Dividend
Peabody Energy has decided to keep its quarterly dividend policy steady. The company declared a payout of $0.085 per share of its common stock, to be paid on June 4 to shareholders of record as of May 14. This amount matches each of its previous quarterly distributions stretching back to Nov. 2010. Prior to that, it handed out $0.07 per share.
The new distribution comes in spite of an unprofitable Q1 for Peabody. Revenues were down and the company posted a net loss of $19 million for the period.
The current dividend annualizes to $0.34 per share, which yields 1.7% at Peabody's most recent closing stock price of $20.06.
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