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 energy 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 and may minimize risks the asset-rich company falls into a liquidity crunch.