The Canadian Press March 5, 2009 at 5:49 PM EST
Linamar Corp. cut its quarterly dividend in half on Thursday as the auto parts maker reported a fourth-quarter loss. The company said it would pay a quarterly dividend of 3 cents per share, down from 6 cents in the previous quarter.
Linamar said the reduction was "a prudent step" and was "in the best interests of the company." Linamar CEO Linda Hasenfratz was not available for Comment.
Read the full story in the Globe and Mail
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