Sherritt posts bigger loss due to coal sale charge
Feb 19 (Reuters) - Canadian miner Sherritt International Corp posted a bigger fourth-quarter loss due to an impairment charge of C$466.8 million ($426 million) related to the sale of its coal assets, and it slashed its quarterly dividend.
Sherritt's fourth-quarter loss widened to C$673.8 million, or C$2.27 per share, from C$16.9 million, or 6 Canadian cents, a year earlier. Excluding items, the company posted a loss of 13 Canadian cents per share.
Sherritt cut its quarterly cash dividend to 1 Canadian cent per share from about 4 Canadian cents per share, to allow the company to meet near-term funding requirements in the face of persistently low commodity prices.
- Malaysia air probe finds scant evidence of attack: sources |
- Search widened as Malaysia air probe finds scant evidence of attack |
- Confrontation in Ukraine as diplomacy stalls |
- Exclusive: Chinese raw materials also found on U.S. B-1 bomber, F-16 jets
- Freescale loss in Malaysia tragedy leads to travel policy questions