Oilfield services provider Calfrac slashes dividend

Thu Sep 24, 2015 6:18am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

Sept 24 (Reuters) - Canadian Calfrac Well Services Ltd slashed its quarterly dividend for the second time in three months, citing weak demand and pricing for oilfield services amid a slump in crude oil prices.

The oilfield services provider also suspended its dividend reinvestment plan for common shares, the company said in a statement on Thursday.

Calfrac cut its dividend to 1.56 Canadian cents per share. It had halved its quarterly dividend to 6.25 Canadian cents in June. (Reporting by Anannya Pramanick in; Bengaluru; Editing by Savio D'Souza)