Dynamic Materials (BOOM) Halves Qtr. Dividend to 2c/Share; Yields 1.3%
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Dynamic Materials (BOOM) Amends Credit Agreement, Cuts Dividend
December 18, 2015 7:32 AM ESTDynamic Materials Corporatio(NASDAQ: BOOM) announced it has amended its current credit agreement with its commercial lenders, and separately, has implemented a temporary reduction in its quarterly dividend. The amended agreement temporarily modifies certain financial covenants and will provide the Company with greater financial flexibility as it navigates the steep downturn in the global oil and gas industry. Key components of the revised agreement include:
An immediate increase in the maximum debt-to-EBITDA leverage ratio from 3.00x to 3.75x, which will remain in effect through the June 30, 2016 reporting period. The maximum leverage... More
