STMicro's Government Shareholders Said in Favor of Dividend CutBy , , and
Company has paid 40-cent dividend per share annually since '11
Dividend yield at over 5% is highest among Europe tech stocks
STMicroelectronics NV’s largest shareholders, the French and and Italian governments, are pushing for a dividend cut to allow the chipmaker to invest more in research and development, according to people familiar with the matter. The shares extended their declines in Paris and Milan.
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