CORRECT: AXL Dividend To Be 2 Cents A Share, Not Reduced By 2 Cents
Friday July 25th, 2008 / 23h02
American Axle Chairman and Chief Executive Richard Dauch said that American Axle & Manufacturing Holdings Inc.'s (AXL) restructuring plan will enable the company to adapt to the new market realties. The company expects to generate between $25 million and $50 million over the next year by selling two of its business and some land, and will save an additional $25 million by reducing its quarterly dividend to 2 cents a share, from 15 cents a share. (A story published at 3:50 p.m. EDT Friday titled "=2nd UPDATE: American Axle Swings To Loss, Plans Restructuring" incorrectly stated the dividend would be reduced by 2 cents.) Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=momliFUbkLkO9OuIQJjF%2Bw%3D%3D. You can use this link on the day this article is published and the following day.
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