BHP's Incoming CEO Visits China Amid Pricing Dispute with CMRG 
Bank of America Identifies Top Asia-Pacific Semiconductor Stocks Poised for AI-Driven Growth 
Abbott Laboratories Ordered to Pay $53 Million in Premature Infant Formula Lawsuit 
Ford Issues Major Recall on Over 422,000 Vehicles Due to Windshield Wiper Defect 
Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
Bill Ackman Eyes New Fund to Bet Against Market Complacency 
Anthropic's Mythos AI Model Sparks Emergency Cybersecurity Meeting With Top U.S. Bank CEOs 
FedEx Pilots and Union Reach Tentative Agreement on 40% Pay Increase 
LG Electronics Posts Record Q1 Revenue Amid Strong Demand and Cost Improvements 
Anthropic Fights Pentagon Blacklisting in Dual Federal Court Battles 
Paramount Skydance Secures $24B from Gulf Sovereign Wealth Funds for Warner Bros. Discovery Takeover 
Kia Cuts EV Sales Target for 2030 Amid Slowing Demand and U.S. Policy Shifts 
Apple's Foldable iPhone Faces Engineering Setbacks, Mass Production Timeline at Risk 
Disney Plans to Cut 1,000 Jobs Amid Ongoing Restructuring Efforts 
China Vanke Seeks Bond Extension Amid Mounting Debt Crisis 
Samsung Electronics Posts Eightfold Profit Surge Driven by AI Chip Demand 
Bendigo and Adelaide Bank Posts Strong Q3 Earnings, Announces AI-Driven Job Cuts 
STATE COLLEGE, Pa., Jan. 21, 2016 -- Rex Energy Corporation (Nasdaq:REXX) today announced that it has suspended payment of its quarterly dividend on shares of its 6.0% Series A convertible perpetual preferred stock.
The company has 16,100 shares of 6.0% convertible perpetual preferred stock outstanding, represented by 1,610,000 depositary shares, and will continue to evaluate the payment or suspension of the dividend on a quarterly basis. The dividend suspension creates an additional $2.4 million of liquidity per quarter and does not constitute an event of default under the company’s revolving credit facility or outstanding bond indentures.
Forward-Looking Statements
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties, such as financial market conditions, changes in commodities prices and the other risks discussed in detail in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 and other subsequent filings with the Securities and Exchange Commission. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. Rex Energy 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 Rex Energy Corporation
Headquartered in State College, Pennsylvania, Rex Energy is an independent oil and gas exploration and production company operating in the Appalachian and Illinois Basins within the United States. The company’s strategy is to pursue its higher potential exploration drilling prospects while acquiring oil and natural gas properties complementary to its portfolio.
For more information contact: Investor Relations (814) 278-7130 [email protected]
