EQT Corp. on Thursday afternoon suspended its quarterly dividend to redirect money toward debt reduction.
The Pittsburgh-based natural gas driller said it would take the estimated $30 million a year in cash savings to pay near-term debt maturities.
“The decision to suspend EQT’s dividend is another action to display our commitment to our debt reduction strategy, which also includes utilizing substantial near-term free cash flow and asset monetization proceeds to reduce debt,” CEO Toby Z. Rice said…
