Coal Dividends Going Way of Dinosaurs as Peabody Ends Payout
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When Peabody Energy Corp. announced it was suspending quarterly payments to shareholders to save cash, it marked the end of an era for traditional U.S. coal miners.
Coal, for decades viewed as a stable investment, is now fighting for its life. Earlier this year, Arch Coal Inc. halted its dividend and has been warned by the New York Stock Exchange it could be delisted if shares stay below $1. Walter Energy Inc., which also suspended its payout, and Alpha Natural Resources Inc. have been dropped by the exchange. Walter filed for bankruptcy earlier this month.