Halcón Announces Suspension of Dividend on Series A Cumulative Perpetual Convertible Preferred Stock
January 28 2016 - 4:30PM
Halcón Resources Corporation (NYSE: HK) (“Halcón” or the “Company”)
today announced that its Board of Directors has suspended the
payment of regular quarterly dividends on shares of its 5.75%
Series A Cumulative Perpetual Convertible Preferred Stock.
This action will preserve liquidity and minimize dilution during
this period of extraordinarily weak market conditions. Halcón’s
Board of Directors intends to reassess the dividend policy on an
ongoing basis.
Forward-Looking Statements
This release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as
amended. Statements that are not strictly historical
statements constitute forward-looking statements and may
often, but not always, be identified by the use of such
words such as "expects", "believes", "intends", "anticipates",
"plans", "estimates", "potential", "possible", or "probable"
or statements that certain actions, events or results "may",
"will", "should", or "could" be taken, occur or be achieved.
Forward-looking statements are based on current beliefs
and expectations and involve certain assumptions or
estimates that involve various risks and uncertainties
that could cause actual results to differ materially from
those reflected in the statements. These risks include, but are not
limited to, those set forth in the Company's Annual Report on Form
10-K for the fiscal year ended December 31, 2014 and other filings
submitted by the Company to the U.S. Securities and Exchange
Commission ("SEC"), copies of which may be obtained from the
SEC's website at www.sec.gov or through the Company's
website at www.halconresources.com. Readers should not
place undue reliance on any such forward-looking statements, which
are made only as of the date hereof. The Company has no
duty, and assumes no obligation, to update forward-looking
statements as a result of new information, future events
or changes in the Company's expectations.
About Halcón Resources
Halcón Resources Corporation is an independent energy company
engaged in the acquisition, production, exploration and development
of onshore oil and natural gas properties in the United States.
Quentin Hicks
SVP – Finance & Investor Relations
Halcón Resources
(832) 538-0557
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