SunEdison tanks after company suspends dividend
Shares of SunEdison Inc. skidded late Wednesday after the solar developer said it has suspended quarterly dividends on its preferred shares. The payments will accrue in arrears and the board will reassess its dividend policy going forward, SunEdison said in a statement. The company had announced plans to restructure its business last month amid an ongoing weakness in the energy market. Shares plunged 12% in after-hours trading after jumping 19% in the regular session.
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