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Timothy Smith

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Timothy Smith

Re: Lone Wolf post# 286

Monday, 09/21/2015 12:08:45 PM

Monday, September 21, 2015 12:08:45 PM

Post# of 1989
Denbury Resources (NYSE:DNR) says it is suspending its quarterly dividend beginning in Q4, saying it needs to free up cash to pay down debt, increase capital spending or buy back stock.

DNR says it is reinstating its share repurchase program, which was suspended in November 2014 and had $222M remaining.

DNR says its oil commodity hedges and proactive reduction in capital spending has buffered it from much of the oil price downturn, but the benefit will begin to diminish in Q4.

Purely My Own Opinion. Do Your Own Due Diligence.

“Formula for success: rise early, work hard, strike oil.” - J. Paul Getty

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