Barnes & Noble Sinks Most Since June After Halting Dividend
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Barnes & Noble Inc., the largest U.S. bookstore chain, declined 14 percent for the largest drop in almost eight months after suspending its dividend to conserve cash and invest in electronic books.
Barnes & Noble previously offered an annual dividend of $1 a share. The New York-based retailer also said today that it will stop giving forecasts for the rest of fiscal year until more is known about Borders Group Inc., which filed for bankruptcy last week.