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Nokia May Cancel Shareholder Dividend to Conserve Cash
Published on:
Nokia is reported to be close to considering scrapping its shareholder dividend in an effort to slow down how fast it is burning through its cash reserves.
The move would alarm investors and likely send its shareprice down sharply on the news, although it would also reassure debt ratings agencies that the company is taking steps to cut its costs.
Nokia's net cash position at the end June 2012 was EUR4.2bn and gross cash of EUR9.4bn.
Citing internal data, Bloomberg News reported that Nokia will probably omit the payout for 2012 after slashing it by more than half over the past four years.
The company usually makes dividend based announcements in January.
On the web: Bloomberg News
Tags: [nokia]
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