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Chesapeake halts dividend as energy slump squeezes cash flow

2015-07-22 04:18:26| Oil & Gas - Topix.net

Chesapeake Energy halted its quarterly dividend for the first time in 14 years as slumping energy prices crimped cash flow for the second-largest U.S. natural gas producer. Ending the 35-cent annual payout beginning with the third- quarter payment will save $240 million a year, Oklahoma City- based Chesapeake said Tuesday in a statement.

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