12 February 2009 20:07 [Source: ICIS news]
(adds Dow stock update, paragraph 7)
Dow attributed the dividend cut to uncertain credit markets, unprecedented lower demand for chemical products, the global recession and "pending business issues", the company said.
Dow had last declared a dividend on 11 December. That dividend was 42 cents/share.
Dow cut its dividend as its stock hit 20-year lows.
Dow stock traded at $9.86 as of 13:46 hours New York time (18:46 GMT), down 1.79%.
The stock later recovered, closing at $10.04, down 1 cent from the opening price.
($1 = €0.78)
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