Comstock Halts Dividend On Lower Oil And Gas Prices
Comstock Resources Inc. on Friday said it will halt its quarterly dividend due to lower oil and gas prices and uncertainty surrounding prices for both commodities. "During this period of weak commodity prices, we believe that it is most important to preserve liquidity and have more funds available to invest in our drilling program," the Frisco, Texas-based company said. Comstock will consider reinstating dividend in future quarters "based on general economic conditions, the company's financial position, capital requirements and other factors," it said. Shares of Comstock fell 4.6% in after-hours trading.
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