ST. LOUIS, Feb. 10, 2014 /PRNewswire/ -- The board of directors of Arch Coal, Inc. (NYSE: ACI) today declared an annual cash dividend of $0.01 per share on the company's common stock. The annual cash dividend of $0.01 per share is payable in full on March 14, 2014 to ACI shareholders of record on Feb. 28, 2014.
John W. Eaves, president and CEO of Arch Coal, Inc., said, "Arch is sharply focused on actions that will increase cash flow, improve operational efficiencies and further optimize our asset portfolio. This previously announced dividend reduction, along with the non-core asset sale announced today, fits with this strategy and further enhances our liquidity."
U.S.-based Arch Coal, Inc. is one of the world's top coal producers for the global steel and power generation industries, serving customers in 25 countries on five continents. Its network of mining complexes is the most diversified in the United States, spanning every major coal basin in the nation. The company controls more than 5 billion tons of high-quality metallurgical and thermal coal reserves, with access to all major railroads, inland waterways and a growing number of seaborne trade channels. For more information, visit www.archcoal.com.
Forward-Looking Statements: This press release contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties arise from changes in the demand for our coal by the domestic electric generation industry; from legislation and regulations relating to the Clean Air Act and other environmental initiatives; from operational, geological, permit, labor and weather-related factors; from fluctuations in the amount of cash we generate from operations; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. For a description of some of the risks and uncertainties that may affect our future results, you should see the risk factors described from time to time in the reports we file with the Securities and Exchange Commission.
SOURCE Arch Coal, Inc.