HOUSTON,
June 20, 2017 /PRNewswire/
-- Southwestern Energy Company (NYSE: SWN) today announced
that an authorized committee of its Board of Directors declared a
quarterly dividend of $15.625 per
share on its 6.25% Series B Mandatory Convertible Preferred Stock,
payable on July 17, 2017, to holders
of record on July 1, 2017. This
equates to $0.78125 for each
depositary share, which represents a 1/20th interest in a share of
the Series B preferred stock. The dividend is for the period
beginning on April 15, 2017 and
ending on July 14,
2017.
The company has elected to pay this dividend in shares of
common stock of the company to the extent permitted by the
certificate of designations governing the Series B preferred
stock. Common shares issued will be listed and tradable on
the New York Stock Exchange. If the value of the common
stock, based on 97% of the weighted average trading price for the
five consecutive trading day period ending the second trading day
before the dividend payment date, would be below an amount
specified in the certificate of designations, holders will receive
the remainder of the dividend in cash.
Southwestern Energy Company is an independent energy
company whose wholly-owned subsidiaries are engaged in natural gas
and oil exploration, development and production, natural gas
gathering and marketing. Additional information on the company can
be found on the Internet at
http://www.swn.com.
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SOURCE Southwestern Energy Company