Black Stone Minerals: Scotiabank lowers PT on reduced cash dividend
06/02/2020 11:51
** Scotiabank cuts PT of minerals firm BSM.N to $12 from
$13 after co reduced quarterly cash dividend
** BSM reduced its quarterly cash dividends to $0.30/unit
from $0.37/unit on Wednesday, citing poor commodity price
environment urn:newsml:reuters.com:*:nBw4lgHNra
** Co says 2020 may be a challenging year in terms of
commodity prices and overall drilling activity
** Scotiabank thinks management is taking proper steps with
the cut to protect balance sheet in an uncertain gas market
** BSM is set to report Q4 results on Feb. 24
** Shares of BSM had fallen ~18% in 2019
(Reporting by Shradha Singh in Bengaluru)
((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))