ST. LOUIS, Jan. 27, 2015 /PRNewswire/ -- The board of directors of Peabody Energy (NYSE: BTU) has declared a quarterly dividend on its common stock of $0.0025 per share. The dividend is payable on Feb. 26, 2015, to holders of record on Feb. 6, 2015.
Given market conditions in recent years, Peabody has taken aggressive actions to reduce operating and corporate costs, lower capital spending and complete asset sales to maintain adequate levels of cash and liquidity. Over the next two years, Peabody has nearly $1 billion in annual cash payments associated with debt service, capital investments, Powder River Basin reserve installments and health benefit trust payments. The annual payments related to the final Powder River Basin reserve installments and health benefit trust payments amount to approximately $350 million of the total, and end within two years. As part of a comprehensive program to manage cash and liquidity, the company has reduced the February 2015 quarterly dividend. Peabody's Board of Directors will continue to evaluate the appropriate dividend level on a quarterly basis.
Peabody Energy is the world's largest private-sector coal company and a global leader in sustainable mining, energy access and clean coal solutions. The company serves metallurgical and thermal coal customers in more than 25 countries on six continents. Peabody was named Energy Company of the Year at the 2014 Platts Global Energy Awards. For further information, visit PeabodyEnergy.com and AdvancedEnergyForLife.com.
SOURCE Peabody Energy