February 7, 2018 - Peabody (NYSE: BTU) announced today that its board of directors has declared a quarterly dividend of $0.115 per share on the company's common stock, payable on March 5, 2018 to shareholders of record on Feb. 19, 2018.
"Peabody is pleased to initiate a quarterly dividend program as an important next step in the company's commitment to shareholder returns, while further demonstrating the company's strong financial position and robust cash generation potential," says Peabody President and Chief Executive Officer Glenn Kellow. "The dividend declaration follows a year in which the company exceeded targets for deleveraging and liquidity, while beginning meaningful share repurchases under a $500 million authorized program. Our dividend is the latest demonstration of our financial approach of generating cash, maintaining a strong balance sheet, investing wisely and returning cash to shareholders."
The Peabody board of directors will evaluate dividends on a quarterly basis, taking into consideration the company's cash flows and alternative means to create shareholder value.
Peabody will host a call at 10 a.m. CST today in conjunction with the company's fourth quarter 2017 earnings announcement. For more information, please refer to PeabodyEnergy.com.
Peabody (NYSE: BTU) is the leading global pure-play coal company, serving power and steel customers in more than 25 countries on six continents. Peabody offers significant scale, high-quality assets, and diversity in geography and products. Peabody is guided by seven core values: safety, sustainability, leadership, customer focus, integrity, excellence and people.