Shares of Upper Midwest gas and electric utility company NorthWestern Corp. fell 7% by Wednesday afternoon to $2.57/share after the company announced that it is suspending its common stock dividend and expects about $700 million in special charges for 2002 because of the poor performance of its investments in CornerStone Propane, communications network provider Expanets, and heating and airconditioning unit Blue Dot.
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NorthWestern Suspends Dividend, Expects Write Down for Unregulated Businesses
Shares of Upper Midwest gas and electric utility company NorthWestern Corp. fell 7% by Wednesday afternoon to $2.57/share after the company announced that it is suspending its common stock dividend and expects about $700 million in special charges for 2002 because of the poor performance of its investments in CornerStone Propane, communications network provider Expanets, and heating and airconditioning unit Blue Dot.
February 20, 2003
CMS to Report Major Loss for 2002, Suspends Dividends
Beleaguered CMS Energy Corp. said Friday it will report a major loss for 2002 due to additional write-downs and has suspended payment of dividends indefinitely to bolster its liquidity position. The company’ stock was drained of more than 28% of its value following the announcement, settling at $6.11 a share late in the day.
January 27, 2003
CMS to Report Major Loss for 2002, Suspends Dividends
Beleaguered CMS Energy Corp. said Friday it will report a major loss for 2002 due to additional write-downs and has suspended payment of dividends indefinitely to bolster its liquidity position.
January 27, 2003
Dynegy Board Suspends Dividend for Third Quarter
Houston-based Dynegy Inc. said its board of directors has elected not to pay a dividend on the company’s Class A or Class B common stock for the third quarter of this year.
August 13, 2002
Shaw Takes Over NRG Plant; Mirant Suspends Construction on WA Plant
Power plant builder, The Shaw Group Inc. suffered two major blows from financially-challenged merchant power producers last week, buying out one project from NRG Energy and halting construction on another at the direction of Mirant Corp.
August 12, 2002
PG&E Suspends Open Season for 1.2 Bcf/d of Pipe Capacity
Pacific Gas and Electric (PG&E) announced that it has suspended its open season for additional intrastate pipeline capacity that was scheduled to close Aug. 30. The California utility said it made the decision not to go forward with the open season at this time while conducting a corporate-wide review related to its ongoing bankruptcy proceedings.
August 20, 2001
PG&E Suspends Open Season for 1.2 Bcf/d of Pipe Capacity
Pacific Gas and Electric (PG&E) announced that it has suspended its open season for additional intrastate pipeline capacity that was scheduled to close Aug. 30. The California utility said it made the decision not to go forward with the open season at this time while conducting a corporate-wide review related to its ongoing bankruptcy proceedings.
August 16, 2001
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