NRG Energy (NRG) will lower its quarterly dividend by 79.3 percent to $0.03 per share. This big reduction comes after a 3.6 percent dividend hike by the utility company last year.

NRG Energy, Inc. is an energy company. The company’s core businesses include retail electricity and natural gas for residential, industrial and commercial consumers, including personal power solutions and Business Solutions, which includes C&I customers and other distributed and reliability products, and wholesale conventional generation primarily to support the retail business. NRG was incorporated as a Delaware corporation on May 29, 1992.