Vermilion Energy Inc. suspends dividend payments after March dividend. "Following the release of our revised 2020 capital budget and announced dividend reduction, we have witnessed further deterioration in near-term commodity prices as a result of the COVID-19 pandemic and resulting oil demand destruction. In particular, growing oil inventory has decreased prompt prices for global benchmark indices and expanded regional discounts in North America. As we have previously stated, we are attuned to evolving business conditions and are prepared to make further adjustments to all forms of cash outlays to protect Vermilion's financial position. In view of our determination to reduce debt within the current commodity environment, we are suspending our monthly dividend until further notice following the payment of the March dividend of $0.115 previously declared for payment today."
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