Reuters: Technology News: Nokia axes dividend to save cash

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Nokia axes dividend to save cash Jan 24th 2013, 11:16 Tweet Share this Email Print Related News UPDATE 2-NORDIC STOCKS - Factors to watch on Jan 24 2:25am EST Nokia expected to suspend dividend; all eyes on Lumia growth Wed, Jan 23 2013 Lumia sales lift Nokia results and turnaround hopes Thu, Jan 10 2013 Analysis & Opinion What Nokia needs to do in 2013 Time to create a holistic mobile ecosystem A man using his mobile phone walks under a Nokia logo in Shanghai December 6, 2012. Credit: Reuters/Aly Song HELSINKI | Thu Jan 24, 2013 6:16am EST HELSINKI (Reuters) - Finnish mobile phone maker Nokia said it was to axe its annual dividend payment for the first time in over 20 years, aiming to shore up its finances amid a fall in sales. Nokia, which earlier this month flagged a return to underlying profitability on cost cuts and stronger Lumia smartphone sales, said on Thursday it finished the year with net cash of 4.4 billion euros ($5.8 billion), down 22 percent from a year earlier. Its quarterly operating profit was 6 euro cents per share, in line with expectations. ($1 = 0.7530 euro) (Reporting by Helsinki Newsroom; Editing by Dan Lalor) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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