September 16, 2014 / 12:18 PM / 3 years ago

Atlantic Power slashes dividend, replaces CEO

Sept 16 (Reuters) - Power producer Atlantic Power Corp slashed its dividend by 70 percent and asked its chief executive to step down as part of a strategic review process.

The company said it appointed Ken Hartwick, director of the board, as a replacement for Barry Welch.

Atlantic Power cut its annual dividend to 12 Canadian cents per share from 40 Canadian cents.

The Boston, Massachusetts-based company, which has been reviewing its businesses, also said it would not sell itself at this time. (Reporting By Shubhankar Chakravorty in Bangalore; Editing by Saumyadeb Chakrabarty)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below