Skope Energy Suspends Dividend, Terminates Debenture Offering; Trading Halted, Share Already Down 24%
Skope Energy Inc. (SKL.TO) is currently under a trading halt, its shares stuck at $3.80 each, down $1.20, and the company now saying its board has suspended its quarterly dividend payment, citing the ongoing slump in natural gas prices and the need to reduce debt. Any future dividends will be contingent upon available cash flow, capital spending requirements and outstanding debt levels.
Skope also terminated its previously announced public offering of 5-year, 8.00% convertible unsecured subordinated debentures due December 31, 2016.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.