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HARTFORD, Conn. (AP) — Shares of several steel makers tumbled Wednesday, a day after Steel Dynamics Inc. reduced its dividend by 25 percent and announced it will sell 27 million shares.
Steel Dynamics cut its quarterly dividend to 7.5 cents from 10 cents, payable July 10 to shareholders of record as of June 30.
The Fort Wayne, Ind.-based company also said Tuesday it will offer a $150 million aggregate principal amount of convertible senior notes due 2014. ...
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