Husky Energy reports $1.7-billion first-quarter loss, cuts dividend

Husky Energy Inc. slashed its dividend as it reported a $1.7-billion loss in its first quarter due to impairment charges related to the plunge in crude oil prices as a result of the pandemic. The company says it will now pay a quarterly dividend of 1.25 cents per share, down from 12.5 cents per share. Husky says its loss for the first quarter amounted to $1.71 per share for the quarter ended March 31 compared with a profit of $328 million or 32 cents per share in the same quarter a year earlier.