Beverly Enterprises Inc. announced that it will...
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Beverly Enterprises Inc. announced that it will discontinue payment of its regular quarterly dividends indefinitely to conserve cash. In addition, the Pasadena-based nursing home operator said it has stopped repurchasing its stock and debt notes. The company announced earlier this month that it lost an unspecified amount during 1987 and that it is renegotiating its line of bank credit. William Wright, Beverly’s chief financial officer, said the company’s dividend payments total about $12 million a year.
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