- Diversified Energy cuts quarterly payout by two-thirds
- But also announces new $410mn addition to portfolio
A dividend yield approaching 30 per cent starts to trigger alarm bells. Diversified Energy (DEC) saw this measure climb in the past year as its share price dropped, but even before the 50 per cent sell-off, the company already had a striking yield thanks to its high recent payouts.
The creaking balance sheet has now taken precedence, however, and the company has cut its quarterly dividend from 87.5¢ (69p) a share to 29¢.