CenturyLink down 11% on slashed dividend

|About: CenturyLink, Inc. (CTL)|By:, SA News Editor

Alongside Q4 results, CenturyLink (NYSE:CTL) announces a cut in the annual dividend to $1 per share from $2.16.

"In 2019, we are shifting our focus from integration to transformation," says CEO Jeff Storey. The company is cutting its leverage target to 2.75x from 3.25x.

Also announced is a plan to protect $7.3B of net operating loss carryforwards via a rights plan.

Shares down 11.35% after hours

Previously: CenturyLink beats by $0.05, revenue in-line (Feb. 13)

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