Dow Chemical Slashes Dividend
The first time since 1912 the dividend has ben cut. The pending deal between Dow Chemical (NYSE:DOW) and Rohm & Haas (NYSE:ROH) is weighing more than the economy.
Dow Chemical Co. on Thursday said it is lowering its quarterly dividend to 15 cents from 42 cents it paid in the previous quarter. The dividend cut is in response to the uncertainty in the credit markets, "unprecedented" lower demand for chemical products, the ongoing global recession and pending business issues, the chemical company said. The dividend is payable April 30 to shareholders of record on March 31.