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TransAlta Corp cuts dividend by more than a third to save money for shift away from coal

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TransAlta Corp, the Alberta power generator, cut its quarterly dividend by more than a third to save money as it transitions toward gas and renewable power generation and away from coal. The quarterly dividend was cut to 4 cents a share from 18 cents previously, the company said in a …

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BHP Billiton dividend cut looms as it takes US$7.2-billion shale charge

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MELBOURNE —Global miner BHP Billiton said on Friday it will write down the value its U.S. shale assets by US$7.2 billion on a bleak outlook for oil and gas prices, cementing expectations it will be forced to cut its dividend for the first time in over 25 years. Investors have …

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Potash Corp. of Saskatchewan Inc slashes dividend for first time since IPO in 1989 as lower fertilizer prices halve earnings

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Potash Corp. of Saskatchewan Inc. is finally taking the extreme measures needed to adapt its business to a very weak potash market. During 2015, the company cut its earnings guidance for three straight quarters as market conditions continued to deteriorate. But it still maintained an upbeat outlook and made no …

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Cenovus Energy Inc slashes dividend, cuts spending and jobs as loss deepens more than expected

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Oil producer Cenovus Energy Inc posted a bigger-than-expected quarterly loss and announced a fresh round of cuts to its quarterly dividend, 2016 capital budget and workforce, as it tries to shore up finances amid an incessant fall in oil prices. The Canadian company, which has been cutting costs in response …

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Encana Corp to cut 20% of workforce, slash dividend, as it gears up for global cost-cutting fight

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CALGARY – North American energy producers are ready for a global cost-cutting battle, the head of Encana Corp. said Wednesday, even as his company posted a US$612 million loss in the fourth quarter. “The world taking on North America had better be ready because this part of the world knows …

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Goldcorp Inc cuts dividend, lowers production guidance for next three years

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Goldcorp Inc. slashed its dividend and lowered its production guidance for the next three years on Thursday as the company tries to maintain a strong balance sheet and faces unexpected problems at an Ontario project. The stock dropped 13 per cent on Friday in response to the news, closing at …

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Magna International Inc raises dividend, but earnings hit by strong American dollar

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AURORA, Ont. — Magna International Inc. (TSX:MG) says the strong American dollar had a significant negative impact on its fourth-quarter revenue, which is reported in U.S. currency. The Canadian autoparts giant based in Aurora, Ont., says its sales for the last three months of 2015 were $8.6 billion, down three …

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