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Shares Of Steel Dynamics Fall After Dividend Cut
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HARTFORD, Conn. (AP) — Shares of Steel Dynamics Inc. fell sharply Wednesday, a day after the steel producer cut its dividend by 25 percent and announced it will sell 27 million shares.
The Fort Wayne, Ind., company cut its quarterly dividend to 7.5 cents per share from 10 cents per share, payable July 10 to shareholders of record as of June 30.
Steel Dynamics also said Tuesday it will offer a $150 million aggregate principal amount of convertible senior notes due 2014. ...
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