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CS - ARC reduces 2020 capital budget by 40% & dividends by 60% - April 2020
ARC Resources is cutting its 2020 capital budget from $500 million to no more than $300 million and reducing its March dividend from $0.05/share to $0.02/share in response to plummeting commodity prices. After the March dividend, it will change to a quarterly dividend of $0.06/share. CEO Terry Anderson said the company believes the moves will allow it to remain well positioned to deliver on its long-term strategy and emerge from the crisis in a......
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