Chesapeake Energy Corp (CHK)

[Simon815]

Chesapeake Energy (NYSE:CHK) says it will eliminate its common stock dividend beginning in Q3 and redirect the cash into its 2016 capital program; CHK will continue to pay dividends on convertible preferred stock.
CHK also says it has agreed to sell all properties held by its CHK Cleveland Tonkawa subsidiary to FourPoint Energy, and redeems all preferred shares in the subsidiary. According to "Seeking alpha"