NRG Slashes Dividend By 80%

NRG Energy announced today that it would lower its annual dividend by nearly 80%, cutting the annual dividend to $0.12/share, from the current $0.58/share

NRG said that this move unlocks approximately $145 million in annual capital available ($725 million over five years), with $105 million unlocked in 2016

NRG said that this strategy is, "consistent with the capital-intensive and cyclical nature of our industry," and, "provides additional flexibility to create shareholder value through all commodity, credit, and development cycles and seize market opportunities."