Halliburton goes on survival mode – slash quarterly dividend

Halliburton Company

Halliburton Company recently announced that the board of directors decided to slash quarterly dividend for the second quarter of 2020 by 75%.

Cutting spending again.

How much more can Halliburton cut? To safeguard its cash position, the company reduced its 2020 capital expenditure by nearly 50% compared with the prior-year levels. It even implemented a $1-billion action plan to lower overhead and other expenses.

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Halliburton (NYSE:HAL) has seen its stock price decline by almost 30% since early October