Berry Corporation (BRY), formerly Berry Petroleum, will suspends its quarterly dividend. In its press release the company states that it will temporarily suspend its regular quarterly dividend until oil prices recover.

The company initiated a quarterly dividend of 9 cents per share in August 2018 and hiked its payment once in November 2018. The last quarterly dividend of 12 cents per share will be paid on April 15, 2020.

Berry is a western United States independent upstream energy company with a focus on the conventional, long-lived oil reserves in the San Joaquin basin of California. Berry Corporation became a public company as Berry Petroleum in July 2018 and had been paying a dividend since 2018 prior to the suspension announced in April 2020.