Walter Energy Suspends Dividend

Alabama-based Walter Energy has suspended its quarterly dividend on its common stock to “enhance financial flexibility in light of current metallurgical coal market conditions.” The company, which expected to mine 9.5 million metric tons (mt) of metallurgical in 2014, previously paid a quarterly dividend of $0.01 per share. The company has also been working reducing its cash cost lowering them from approximately $100/mt to $96/mt. Walter Energy operates some the deepest mines coal mines in the world.