EXCO Resources Board Suspends Dividend - Quick Facts

(RTTNews) - EXCO Resources, Inc. (XCO) announced its Board has suspended the cash dividend to provide additional funds to reinvest into the company. The company said it is currently developing 2015 budget, allocating capital to the highest risk adjusted return investments

Jeff Benjamin, EXCO's chairman said: "In view of the recent decline in oil prices and oil and natural gas companies' securities, the Board believes that EXCO's shareholders will be better served by reinvesting in our business rather than paying a dividend at this time. The capital that would have been utilized by the dividend will help unlock additional value from EXCO's current asset base, particularly with the development of the Shelby natural gas asset in East Texas in 2015."