Rex Energy (REXX) Suspends Preferred Stock Dividend

Rex Energy Corporation (Nasdaq: REXX) today announced that it has suspended payment of its quarterly dividend on shares of its 6.0% Series A convertible perpetual preferred stock.

The company has 16,100 shares of 6.0% convertible perpetual preferred stock outstanding, represented by 1,610,000 depositary shares, and will continue to evaluate the payment or suspension of the dividend on a quarterly basis. The dividend suspension creates an additional $2.4 million of liquidity per quarter and does not constitute an event of default under the company’s revolving credit facility or outstanding bond indentures.

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