Peabody approves new shareholder return programme

US-based coal miner Peabody on Monday announced a new board-approved shareholder return framework, which includes a share repurchase plan, a fixed quarterly cash dividend and a variable quarterly cash dividend component.

The board also approved a new share repurchase programme authorising repurchases of up to $1-billion of BTU common stock. 

Additionally, Peabody amended its surety agreement to limit collateral exposure and remove other restrictions.