LISLE, Ill.--(BUSINESS WIRE)--As previously announced, SunCoke Energy, Inc. (NYSE: SXC) will not pay out a cash dividend on its common stock, a move that was affirmed today by SunCoke Energy, Inc.’s Board of Directors. The fourth quarter 2015, which ended December 31, 2015, will be the first quarter to not receive a dividend payout.
The suspension is part of SunCoke Energy, Inc.’s revised capital allocation strategy to maintain a solid liquidity position against challenging market conditions. The Company ended 2015 with more than $275 million of total liquidity, including $123 million in cash and $155 million available in its revolver.
ABOUT SUNCOKE ENERGY, INC.
SunCoke Energy, Inc. (NYSE: SXC) supplies high-quality coke to the integrated steel industry under long-term, take-or-pay contracts that pass through commodity and certain operating costs to customers. We utilize an innovative heat-recovery cokemaking technology that captures excess heat for steam or electrical power generation. We are the sponsor of SunCoke Energy Partners, L.P. (NYSE: SXCP), a publicly traded master limited partnership, holding a 2 percent general partner interest, 54 percent limited partnership interest and all of the incentive distribution rights. Our cokemaking facilities are located in Illinois, Indiana, Ohio, Virginia, Brazil and India. To learn more about SunCoke Energy, Inc., visit our website at www.suncoke.com.