HOUSTON, June 14, 2016 /PRNewswire/ -- Southwestern Energy Company (NYSE: SWN) today announced that an authorized committee of its Board of Directors declared a quarterly dividend of $15.625 per share on its 6.25% Series B Mandatory Convertible Preferred Stock, payable on July 15, 2016, to holders of record on July 1, 2016. This equates to $0.78125 for each depositary share, which represents a 1/20th interest in a share of the Series B preferred stock. The dividend is for the period beginning on April 15, 2016 and ending on July 14, 2016.
The company has elected to pay this dividend in shares of common stock of the company to the extent permitted by the certificate of designations for the Series B preferred stock. Common shares issued will be listed and tradable on the New York Stock Exchange.