Encana has joined the growing ranks of North American oil and gas producers who are slashing or suspending their dividend payments to shareholders as the industry steels itself for another year of painfully low commodity prices. The Canadian company, which reports in US dollars, said it will cut its quarterly dividend payment by almost 80% to 1.5￠ per share from 7￠ per share. It said the move will result in cash savings of $185 million per year.
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