: Warrior Met Coal to pay special dividend, relaunches development of coal project in Alabama #FinanceUSA #StockMarketNEWS Warrior Met Coal announced Tuesday that it will pay a special dividend of 50

@stockMarketNEWS 19 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Warrior Met Coal to pay special dividend, relaunches development of coal project in Alabama #FinanceUSA #StockMarketNEWS
Warrior Met Coal announced Tuesday that it will pay a special dividend of 50 cents a share, and said it was relaunching development of its Blue Creek coal project in Alabama. The special dividend is payable on May 20 to shareholders of record on May 13. The coal miner's stock was still inactive in premarket trading. Regarding Blue Creek, the company said it had delayed development due to the uncertainty of COVID-19, as well as market conditions and a labor strike. The company decided to move forward with development as market conditions have "significantly improved" and cash generation and cash on hand have increased significantly. "The recent shift to a higher price environment, and the outlook for a continuation of that environment for the near future, presents us the opportunity to deploy our capital on two important fronts - special dividends (in addition to our regular quarterly dividends) and the Blue Creek project," said Chief Financial Officer Dale Boyles. The stock has soared 30.2% year to date, while the S&P 500 has dropped 12.8%.

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