On Friday, Shares of SandRidge Energy Inc. (NYSE:SD), gained 16.20% to $0.354.
SandRidge Energy, declared that its Board of Directors has decided to suspend payment of the $3.50 per share semi-annual dividend on shares of its 7.0% Convertible Perpetual Preferred Stock.
James Bennett, President and CEO, commented “Preservation of liquidity and prudent capital allocation are key issues for SandRidge in the current environment. In prior periods, we had chosen to PIK the dividend on our preferred stock, paying in common shares rather than in cash. Given the low recent SD share price, paying the dividend in shares would subject our equity holders to noteworthy dilution. So we have chosen to suspend the dividend as we proactively protect and improve our balance sheet while supporting long term enterprise value.”
The Company has 3,000,000 shares of 7.0% Convertible Perpetual Preferred Stock outstanding and will continue to re-evaluate the dividend payment policy on a semi-annual basis.
SandRidge Energy, Inc. is an oil and natural gas company. The Company operates in three business segments: exploration and production, drilling and oil field services, and midstream services. The exploration and production segment explores for, develops and produces oil and natural gas in the Mid-Continent.
Shares of KeyCorp (NYSE:KEY), declined -0.88% to $12.98, during its last trading session.
KeyCorp, declared recently that Don Kimble, Chief Financial Officer, together with E.J. Burke and Dennis Devine, Co-Presidents of Key Community Bank, will present at the BancAnalysts Association of Boston Conference in Boston, Massachusetts on Thursday, November 5, 2015, at 1:55 p.m. ET.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association, which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Bank provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services.
Finally, Lattice Semiconductor (NASDAQ:LSCC), ended its last trade with -1.06% loss, and closed at $3.73.
Lattice Semiconductor (LSCC) has received an average broker rating score of 1.00 (Strong Buy) from the four analysts that cover the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus price objective of $7.25 for the company and are predicting that the company will post ($0.07) EPS for the current quarter, according to Zacks. Zacks has also assigned Lattice Semiconductor an industry rank of 202 out of 265 based on the ratings given to its competitors.
Lattice Semiconductor Corporation (Lattice) designs, develops and markets programmable logic products and related software. The Company also provides design services, customer training, field engineering and technical support. The Company has two programmable logic device (PLD) architectures, which include field programmable gate arrays (FPGAs) and complex programmable logic devices (CPLDs).
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