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Intel Corp. said it would cut its dividend to conserve cash as the chip maker tries to balance the financial impact of an aggressive expansion plan with the hit from a near-term demand slump.
The payout reduction by two-thirds to 50 cents annually would help the company make investments to transform itself during the current period of economic uncertainty, Intel said. The company’s annual dividend hasn’t been that low since 2007, when it was 45 cents.
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