Carbo Ceramics halts dividend

Carbo Ceramics (CRR) will stop paying quarterly dividends.

Gary Kolstad, President and CEO of CARBO, said "The decision by the Board of Directors to suspend the dividend was not an easy one given the importance of the dividend to our shareholders. However, it is necessary to continue to take measures to preserve cash during this prolonged industry downturn."

In 2015 Carbo Ceramics lowered its quarterly dividend by 69.7% from $0.33 to $0.10 per share.

Source: Carbo Ceramics

Recent headlines