HOUSTON, Sept. 15, 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
October 16, 2017, to holders of
record on October 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 July 15, 2017 and ending
on October 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
volume 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.
Contact:
Michael Hancock
Vice President, Investor Relations
(832) 796-7367
michael_hancock@swn.com
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SOURCE Southwestern Energy Company