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BRIEFLY

November 18, 1987

Siemens AG, the West German electronics and nuclear power giant, announced a cut in its dividend, giving a new jolt to the country's business confidence already shaken by the broad crash in stock prices. Industry analysts said West German companies followed a cautious dividend policy and rarely changed their payouts. Siemens' dividend cut therefore took investors by surprise and pushed West German stock prices lower. The company said it was cutting its dividend to $6.45 from $7 after 1986-87 net profit fell to $760 million from $865 million.

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