Financially troubled American International Group Inc. announced today that its board of directors has decided not to issue dividends on AIG common stock.
Bogged down by liquidity problems, the giant New York company last week secured an $85 billion federal loan in exchange for the government taking an 80 percent interest in the firm and an ouster of its management.
AIG's last dividend of 22 cents a share was issued on Friday, it was a 10 percent increase over the previous dividend and the 23rd consecutive year that AIG increased its dividend.
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