April 23, 2020 / 5:12 AM / a month ago

Equinor cuts first-quarter dividend by 67% amid oil price crash

OSLO, April 23 (Reuters) - Norwegian oil firm Equinor will cut its quarterly dividend payment by two-thirds as part of an effort to preserve cash amid the collapse in crude prices, it said on Thursday.

The first-quarter cash payout to shareholders will be $0.09 per share, down from $0.27 in the fourth quarter of 2019, it added.

The company recently announced plans to cut investments, exploration drilling and operating costs by around $3 billion to help weather the crisis. (Reporting by Terje Solsvik; Editing by Christian Schmollinger)

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