Photographer: Don Emmert/Getty Images

Sotheby's Sees Fourth-Quarter Loss; Scraps Dividend for Buyback

  • Firm can repatriate earnings for strategic U.S. investments
  • Company boosts share buy backs to as much as $325 million

Sotheby’s, the New York-based auctioneer of art and collectibles, posted a fourth-quarter loss and said it would scrap its quarterly dividend to buy back more shares instead.

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