Barnes & Noble Suspends Dividend

Barnes & Noble Inc (BKS) declined as much as 15%, the most in almost three months, after suspending its quarterly dividend of 25 cents per share. The largest U.S. bookstore chain said the move would provide “financial flexibility to continue investing into its high growth digital strategies,” while simultaneously allowing the company to take advantage of other market opportunities.

BKS fell $1.66, or 8.92%, to $16.95 at 10:46 a.m. today in NYSE composite trading.

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