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Western Refining suspends dividends through 2009



By AP
01 July 2008 @ 09:47 am EST

NEW YORK - Western Refining Inc. said Tuesday it will suspend cash dividend payments through next year, as part of its amended credit facility.

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The oil refiner said it amended its credit facilities to eliminate all debt obligations for the quarter that ended Monday, and will reinstate debt at renegotiated rates on Sept. 30.

Western also said it obtained a new $75 million credit facility, in addition to the $800 million revolver currently in place.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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