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2008-11-12
CryptoLogic cuts dividend by three-quarters in 'challenging year'
DUBLIN, Ireland — Online gambling software provider CryptoLogic Ltd. (TSX:CRY) has cut its quarterly dividend to three cents US per share, from 12 cents.
"The continuing payment of a dividend, even in a challenging year for the company, reflects the board's confidence in CryptoLogic's strategy to return to growth and profitability in 2009," the company stated Wednesday.
CryptoLogic, which still has much of its staff in Canada despite moving its head office two years ago to the more gambling-friendly Irish capital, made the announcement a day before the scheduled release of its third-quarter financial results.
At Wednesday afternoon's TSX price of $5.80, up eight cents on the day but down from $22 in May, the new dividend yields two per cent.
CryptoLogic said Sept. 22 that revenue "has been in line with seasonal trends and current market expectations" and it expected to report a third-quarter operating loss of $1 million to $1.5 million, a modest improvement from the second quarter, but it also anticipated a $3.6-million foreign exchange loss. |
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发表于 2008-11-13 09:04
