Finnish cell phone maker Nokia is expected to suspend its annual dividend payment. The dividend, which Nokia had been paying for over 20 years, cost the company
€750 million ($996 million) per year. The company stated that the
savings would give it flexibility. Nokia has €4.4 billion ($5.87
billion) in cash, a 22 percent decrease from the previous year. The
announcement resulted in an 8.2 percent stock price decline.
