May 6 (Reuters) - Norbord Inc OSB.TO :
* NORBORD REPORTS FIRST QUARTER 2020 EARNINGS; PROVIDES COVID-19 UPDATE; DECLARES QUARTERLY DIVIDEND
* NORBORD INC QTRLY ADJUSTED EARNINGS OF $0.26 PER DILUTED SHARE
* NORBORD INC - LIQUIDITY OF $247 MILLION AT QUARTER-END, AFTER $69 MILLION SEASONAL INVESTMENT IN WORKING CAPITAL
* NORBORD INC - Q1 OF THIS YEAR WAS OFF TO A STRONG START, AS IMPROVED HOUSING ACTIVITY IN LATE 2019 CARRIED INTO 2020
* NORBORD INC - EFFECTS OF COVID-19 PANDEMIC, BEGAN TO IMPACT DEMAND FROM A NUMBER OF OUR CUSTOMERS TOWARDS END OF MARCH
* NORBORD INC - IN APRIL, REDUCED NORTH AMERICAN AND EUROPEAN OPERATING MILL CAPACITY BY ABOUT 35%
* NORBORD INC - DOES NOT INTEND TO PROVIDE INTRA-QUARTER OPERATIONAL UPDATES UNLESS THERE IS A SIGNIFICANT CHANGE IN CURTAILMENT STRATEGY
* NORBORD INC - TO-DATE, NONE OF CO'S MILLS HAVE BEEN REQUIRED TO CLOSE FOR EXTENDED PERIODS UNDER GOVERNMENT RESTRICTIONS
* NORBORD INC - TO-DATE HAS NOT EXPERIENCED ANY SIGNIFICANT RAW MATERIAL OR OTHER SUPPLY DISRUPTIONS
* NORBORD INC - REDUCED ITS 2020 CAPITAL EXPENDITURES BUDGET BY AN ADDITIONAL 25%, FROM $100 MILLION TO $75 MILLION
* NORBORD INC - MINIMIZED SHARE REPURCHASES STARTING IN EARLY MARCH AND SUSPENDED ALL REPURCHASES DURING ITS Q1 BLACKOUT PERIOD
* NORBORD INC - BOARD OF DIRECTORS HAS REDUCED QUARTERLY DIVIDEND TO C $0.05 PER COMMON SHARE FROM C $0.20 LAST QUARTER
* NORBORD INC - IN NORTH AMERICA, U.S. NEW HOME CONSTRUCTION, SINGLE LARGEST DRIVER OF OSB DEMAND, CONTINUED TO STRENGTHEN THROUGH MOST OF QUARTER
* NORBORD INC - NORTH AMERICAN BENCHMARK OSB PRICES INCREASED THROUGHOUT MOST OF QUARTER BEFORE IMPACT OF COVID-19 PANDEMIC TOOK HOLD
* NORBORD INC QTRLY SALES $467 MILLION VERSUS $476 MILLION
* NORBORD INC QTRLY EARNINGS PER COMMON SHARE BASIC AND DILUTED $0.25