Cenovus Energy suspends dividend, cuts capital spending plan, salaries

Cenovus Energy Inc. is temporarily suspending its dividend and cutting its capital spending plan by an additional $150 million on top of a reduction announced last month. The company says the additional steps are in response to the low global oil price environment that it expects to continue for an unknown period. It had paid a quarterly dividend of 6.25 cents per share. The cut to its capital spending plan comes on top of a $450-million reduction made on March 9. Cenovus now expects to spend be