This Time Is Different: Chesapeake Energy Scraps Dividend Amid Oil And Gas Plunge

Shale oil and gas driller Chesapeake Energy is scrapping its common stock dividend in order to maintain capital expenditure amid a sharp slump in oil and natural gas prices. The move, which goes in the opposite direction of ConocoPhillips's decision last week to pare back capex and protect its dividend, is being called a "bold decision" by analysts, which may minimize risks that the asset-rich company falls into a liquidity crunch.