Vanguard Natural Resources (VNR) Cuts Monthly Dividend 74.5% to 3c/Share; Yields 12.5%
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Vanguard Natural Resources, LLC Announces Reduction in Common Unit Distribution and No Change to Preferred Unit Distributions
December 18, 2015 7:00 AM ESTHOUSTON, Dec. 18, 2015 (GLOBE NEWSWIRE) -- Vanguard Natural Resources, LLC (NASDAQ: VNR) (Vanguard) has declared a cash distribution attributable to the month of November 2015 of $0.03 per common unit ($0.36 per unit on an annual basis) payable on January 14, 2016 to common unitholders of record on January 4, 2016. This distribution level represents an approximate 75% reduction from the $0.1175 per common unit monthly distribution ($1.41 per common unit on an annual basis) paid last month. Based on yesterdays closing price of $2.89, the new distribution provides a current yield of 12.5%.Â
Vanguard has also declared cash distributions for its 7.875% Series A Cumulative Redeemable Perpetual... More
