Thursday morning, Peabody Energy (BTU) announced that it has completed the spin-off of coal assets and operations in West Virginia and Kentucky to BTU shareholders. The spin-off was accomplished on Oct. 31 through a special dividend of all outstanding shares of Patriot Coal Corporation, at a ratio of one share of Patriot Coal stock for every 10 shares of Peabody held. Patriot trades on the New York Stock Exchange under the ticker symbol PCX and has 26.6 million shares outstanding.
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