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Blockbuster Nixes Q2 Dividend

2 Sep, 2005 By: Kurt Indvik

Blockbuster Inc.'s board of directors today announced the company will not declare a quarterly cash dividend for the third quarter of 2005, adding that the board will “evaluate declaring a quarterly cash dividend in the future.”

A statement from the company said that, “…as Blockbuster works to transform itself in the face of some very challenging market dynamics, the Board has determined that at this time it is more important to use the cash, which would have been used to pay a quarterly dividend, for the business."

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