Black & Decker cuts quarterly dividend to save $54M

05/1/2009 | Reuters · Sun (Baltimore), The

Black & Decker Corp. cut its quarterly dividend from 42 cents per share to 12 cents per share. The U.S. tool manufacturer, which has not lowered dividends since 1986, said the dividend cut will save $54 million in 2009. Last week, Black & Decker posted a 93% drop in net income for the quarter.

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Reuters · Sun (Baltimore), The

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