Freeport suspends dividend, reduces spending plans

Wed Dec 9, 2015 8:11am EST
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Dec 9 (Reuters) - Diversified U.S. miner and energy producer Freeport-McMoRan Inc said it had suspended its annual dividend of 20 cents per share to save cash amid a slump in commodity prices.

Freeport, under pressure from activist investor Carl Icahn, further reduced its capital spending plans for 2016 and 2017 on Wednesday. (Reporting by Sneha Banerjee in Bengaluru; Editing by Shounak Dasgupta)