Freeport suspends dividend, reduces spending plans

Wed Dec 9, 2015 8:11am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

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)