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Enerplus Makes Further Cut to Spending for 2016
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Enerplus Corporation has updated its capital budget and production forecast for 2016 and is reducing its monthly dividend.
2016 Outlook In response to the continued decline in crude oil prices, Enerplus is taking further steps to protect its balance sheet and maintain its financial flexibility. Enerplus' Board of Directors has approved a reduction in the monthly dividend to $0.01 per share from $0.03 per share, effective with the April dividend, payable on April 15, 2016. This reduction reflects the need to rebalance the dividend level in the context of the sustained low commodity price environment. Enerplus has also reduced its 2016 capital budget a further 43% to $200 million. This represents a 60% reduction from 2015 spending levels. The reduced budget is focused on balance sheet…- ✓ Full news archive — U.S., Canada & international coverage
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