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Arch Coal Trims FY20 Sales Volume Guidance; Boosts Qtly. Dividend 11%

While reporting financial results for the fourth quarter on Thursday, Arch Coal, Inc. (ARCH) trimmed its total sales volume outlook for the full year 2020 to between 82.8 million and 87.2 million tons from the prior forecast between 86 million and 92 million tons.

Its board also approved a 11 percent higher quarterly cash dividend payment of $0.50 per common share, which is scheduled to be paid on March 13, 2020 to stockholders of record at the close of business on March 3, 2020.

Since launching the capital return program, Arch has increased the quarterly dividend rate three times, by a total of 43 percent.

"We are driving forward with our efforts to further reduce the cost structure of our metallurgical segment; enhance our metallurgical portfolio's already significant cash-generating capabilities through the build-out of Leer South; generate significant levels of cash at our low-cost thermal assets; prepare those assets for an increasingly challenging market environment through the completion of the synergistic joint venture with Peabody; and maintain our industry-leading balance sheet strength," said John Eaves, Arch's chief executive officer.

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