Azure Midstream Partners (AZUR) to Temporarily Suspend Distribution for Q4

Azure Midstream Partners, LP (NYSE: AZUR) announced that its Q4 2015 distribution has been temporarily suspended as it considers various alternatives for re-instating distributions.

Azure is pursuing a number of options to strengthen its balance sheet including a potential equity restructuring, capital raise and strategic alternatives that will provide excess liquidity with the intent to give visibility into stabilizing future distributions.

"We view this suspension as a means to reduce leverage while we work to implement a 'one and done' solution that is designed to withstand the possibility of a multi-year challenging energy environment," said I.J. "Chip" Berthelot II, Azure president and CEO. "In spite of the distribution suspension, we are expecting Q4 2015 to be one of its strongest quarters in the history of the partnership."

Azure will report financial results for fourth quarter 2015, before the U.S. markets open for trading on Thursday, March 10, 2016. Following the announcement, management will host a conference call for investors and analysts at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) to discuss the operating and financial results. Investors may participate either by phone or live audio webcast.

You May Also Be Interested In

• Tesla touts acceleration of new models, but Q1 results fall short of estimates
• Premier Financial (PFC) Tops Q1 EPS by 3c
• Renasant Corp. (RNST) Tops Q1 EPS by 3c