EQT Corporation (EQT) will suspend its quarterly dividend. This follows a dividend cut of 86.4 percent to $0.03 per share in 2013.

In its press release, explaining further actions taken to prioritize debt repayment, the company today announced that its Board of Directors has elected to suspend the quarterly cash dividend on its common stock, effective immediately. This will accelerate cash flow to be utilized for EQT's debt reduction strategy. President and CEO Toby Rice stated: "The decision to suspend EQT's dividend is another action to display our commitment to our debt reduction strategy, which also includes utilizing substantial near-term free cash flow and asset monetization proceeds to reduce debt.  As we enhance our balance sheet and leverage metrics over-time, we will re-visit our shareholder return and dividend policy. These actions will better position EQT's financial framework."

EQT Corporation is a natural gas production company with emphasis in the Appalachian Basin and operations throughout Pennsylvania, West Virginia and Ohio. EQT is the largest producer of natural gas in the United States. The company is a leader in the use of advanced horizontal drilling technology. EQT seeks to be the premier producer of environmentally friendly, reliable, low-cost natural gas, while maximizing the long-term value of its assets through operational efficiency and a culture of sustainability.