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AGL (ASX:AGL) share price on watch following demerger update Another ASX 200 company is planning to split into two… James Mickleboro has been a Motley Fool contributor since late 2015. After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. This was the start of a love affair with Australian equities and he hasn t looked back since. James is part of the CFA Institute s Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns. ....
AGL to stop paying special dividend to preserve A$500 mln cash AGL expects investment grade credit ratings for both companies AGL s shares drop 10% June 30 (Reuters) - Australia s AGL Energy (AGL.AX) said on Wednesday it expects to split into a bulk power generator and a carbon-neutral energy retailer by June 2022 and would stop paying special dividends to shore up the two companies balance sheets. Investors gave a thumbs down on the plan, sending AGL s shares 10% lower by the end of the day, following an initial drop of 4% after the company announced the dividend cut and warned it still expected a material step-down in earnings next year. ....