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Pengrowth Energy cutting its dividend in half to one cent

CALGARY — Pengrowth Energy Corp. is cutting its dividend by half in response to continued weakness in commodity prices.The Calgary-based oil and gas producer will chop the cash dividend to one cent per quarter in December, after making a previously scheduled payment of two cents per share on Sept. 15.Pengrowth is also suspending its dividend reinvestment plan effective Dec. 15, saying it doesn’t believe it would be in shareholders’ interest to issue further equity in a low-price environment.The company’s stock closed Monday at $1.93 per share, down from more than $4 in late April.Pengrowth said it’s committed to live within the cash flow generated by its operation.