Polaroid Suspends Quarterly Dividend
Polaroid
(PRD)
suspended its regular quarterly dividend of 15 cents, as part of an effort to focus on cash flow, increase liquidity and streamline the company's operations.
The film and camera company has 45.7 million shares outstanding. In the fourth quarter, Polaroid, which is based in Cambridge, Mass., posted a loss of $5.9 million, or 13 cents a share, on sales of $506.2 million, after a grim
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earnings forecast in December.
During regular trading on the
New York Stock Exchange
, Polaroid gained 20 cents, or 3.1%, to $6.70.
