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Verso Corporation (NYSE: VRS) reported Q2 2020 results, revealing net sales of $268 million, significantly down $334 million from last year. The net loss was $(34) million or $(0.99) per diluted share, an improvement from $(112) million or $(3.23) per share in Q2 2019. Adjusted EBITDA stood at $(9) million, down from $44 million in 2019. The company announced a special cash dividend of $3.00 per share and a quarterly dividend of $0.10, both payable on September 28, 2020. Major challenges stem from reduced demand due to the COVID-19 pandemic.
Verso Corporation (NYSE: VRS) will hold a conference call on August 6, 2020, at 11:30 a.m. (EDT) to discuss its second quarter 2020 financial results. Investors can join the call by dialing the provided numbers or through Verso's website. A replay will be available starting the same day at 1:30 p.m. (EDT) until September 6, 2020. Verso is a leading producer of graphic and specialty papers and is committed to ethical practices and sustainable sourcing.
Verso Corporation (NYSE: VRS) will conduct its 2020 Annual Meeting of Stockholders virtually due to the COVID-19 pandemic. Scheduled for August 5, 2020, at 10:00 a.m. (Eastern Time), the meeting will be accessible via live audio webcast. Stockholders can participate by visiting this link with their control number. Voting is encouraged in advance of the meeting, and the proxy materials remain unchanged despite the location switch. Additional details can be found in the supplemental proxy materials filed on July 21, 2020.