Crescent Point sees 2016 production at lower end of forecast

Wed Mar 9, 2016 7:10am EST
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March 9 (Reuters) - Canadian oil and gas producer Crescent Point Energy Corp said it expected 2016 capital expenditure and production to be at the lower end of its forecasts and the company slashed its dividend.

The company cut its monthly dividend to 3 Canadian cents per share from 10 Canadian cents.

Crescent Point also posted a net loss of C$382.4 million ($285.4 million), or 76 Canadian cents per share, for the fourth quarter. The company had a profit of C$121.3 million, or 27 Canadian cents per share, a year earlier. ($1 = C$1.34) (Reporting by Anet Josline Pinto in Bengaluru; Editing by Kirti Pandey)