Empire District Electric Suspends Dividend amid Deadly Joplin Tornado (EDE)

By Dividend.com Staff,

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Electric utility operator The Empire District Electric Company ( EDE ) late Wednesday said it would suspend its dividend payouts for the remainder of the year, following the deadly tornadoes that struck its home area early this week.

EDE's board of directors noted it expects to resume dividend payouts at around 25 cents per share following a two-quarter suspension. Its previously-scheduled dividend was 32 cents per share.

The company said it expects to be able to grow the dividend again once the region recovers. EDE is headquartered in Joplin, MO, which suffered the brunt of the worst tornado in the U.S. in 64 years.

Empire District shares plunged $4.40, or -20%, in premarket trading Thursday.

We have suspended coverage on The Empire District Electric Company until it reinstates its dividend.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com

This article appears in: Investing Stocks
Referenced Stocks: EDE

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