Why Peabody Energy Stock Is Soaring Today

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  • Peabody Energy Corporation BTU stock is surging Monday morning after approving a new shareholder return framework.
  • The new framework includes a share repurchase plan, a fixed quarterly cash dividend, and a variable quarterly cash dividend component.  
  • The board approved a share repurchase program authorizing repurchases of up to $1 billion of BTU common stock.  
  • The company also amended its surety agreement to limit collateral exposure and remove other restrictions.
  • Peabody plans to return shareholders at least 65% of annual Available Free Cash Flow (AFCF) retroactive to January 1, 2023. 
  • BTU expects to launch the shareholder return program in 2Q23.
  • Peabody anticipates the shareholder return program will include a regular quarterly cash dividend of $0.075 per share.  
  • "The amended agreement with our surety partners ensures that all Peabody lands are rightfully restored for future generations, and further strengthens our financial outlook by removing significant contingent collateral requirements through 2026," stated Chief Financial Officer Mark Spurbeck. 
  • Price Action: BTU shares are trading higher by 7.21% at $27.05 on the last check Monday.
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