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SunEdison suspends preferred stock dividend; shares drop

Mar. 02, 2016 5:10 PM ETSunEdison, Inc. (SUNE) StockBy: Eric Jhonsa, SA News Editor143 Comments
  • SunEdison (SUNE) is suspending the quarterly dividend paid (either in cash or stock) for its 6.75% Series A perpetual convertible preferred stock. The board "intends to reassess its dividend policy on an ongoing basis."
  • Shares are down 12.9% after hours to $1.56. They rose 19.3% in regular trading amid a WSJ report stating bankers are balking at providing committed loans to finance SunEdison's planned acquisition of Vivint Solar. They tumbled yesterday following news SunEdison is delaying its 10-K filing and is seeing an Audit Committee probe related to issues raised by current and former employees.

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