BUZZ-Atlantic Power Corp: Stock's worst day in 18 months

Tue Sep 16, 2014 11:54am EDT
 
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(Updates with Tuesday's trade)

** Power producer's Canadian-listed and U.S.-listed shares down 34 pct, their steepest fall since March 2013

** Stock is biggest percentage loser on TSX and NYSE; with over 1.7 million shares traded, is among the busiest on the TSX

** Boston-based company decides against selling itself, chops dividend by 70 pct, asks CEO to step down

** Says may still sell assets or enter JVs, partly to pay off debt, which has quadrupled in the last four years

** Before Tuesday's losses, the U.S.-listed shares have shed nearly three-fourth of their value in the same period, despite a 9.5 pct gain this year (Reuters Messaging: sneha.banerjee.thomsonreuters.com@reuters.net)