Peabody Energy Corp. has been slammed by tax and penalty charges of $72 million by the Australian Taxation Office. The total amount comprises $50 million towards unpaid taxes and fines of $22 million. The fine comes after the company in its 2012 financial report stated that ATO is examining its Australian tax returns from 2004 to 2010. The tax authorities have claimed that the company has not paid adequate taxes for the undisclosed financial transactions carried out between 2004 and 2010. The company advised that it would resort to legal action. The ATO issued a final assessment questioning unspecified financing transactions of $71.9 million, including additional taxes of $50 million, interest and penalties of $21.9 million. The company plans to proceed with litigation.

The board of directors of Peabody Energy Corp. declared a regular quarterly dividend on its common stock of $0.085 per share. The dividend is payable on June 4, 2013, to holders of record on May 14, 2013.

Peabody Energy Corp. announced that it has reached a settlement to reduce benefits for its nonunion retirees, but to successfully reorganize, it has to come to terms with its union. Patriot Coal and The Salaried Retiree Committee agreed to change and end certain benefits for non-union retirees of Patriot. During a hearing April 23 in U.S. Bankruptcy Court in St. Louis, Judge Kathy Surratt-States approved the agreement. Patriot will provide benefits to its non-union, salaried retirees through July 31, establish a Voluntary Employee Beneficiary Association (VEBA) Trust for the non-union retirees and provide $250,000 for it, and cap the maximum benefit of the retirees' life insurance at $30,000.