LINN Energy (LINE) Lowers Monthly Dividend 57% to $0.1042; 12.3% Yield

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Go back to LINN Energy (LINE) Lowers Monthly Dividend 57% to $0.1042; 12.3% Yield

LINN Energy (LINE) to Trim Annual Distribution by 57%; Enters Alliance with GSO Capital; Updates on Hedging

January 2, 2015 6:51 AM EST

(Updated - January 2, 2015 7:49 AM EST)

LINN Energy (NASDAQ: LINE) and LinnCo, LLC (Nasdaq: LNCO) announced that LINN's Board of Directors has approved a 2015 budget which includes a 53% reduction in oil and natural gas capital expenditures to $730 million, from approximately $1.55 billion in 2014, and a reduction of the LINN distribution and LinnCo dividend to $1.25 per unit or share, from the previous level of $2.90 per unit or share, on an annualized basis. LINN expects to fund its total 2015 oil and natural gas capital program, along with the distribution, from internally generated... More