Dow (DOW) CEO Said 9% Yielding Dividend is Safe

At its conference call, Dow Chemical (NYSE: DOW) CEO Andrew Liveris said he will not cut the dividend. The current yearly dividend on Dow is $1.68 per share, yielding 8.8%.

Dow is holding the call this morning after announcing plans to eliminate approximately 5,000 full-time jobs, close 20 facilities in high-cost locations. The actions are expected to save $700 million annually by 2010 and are in addition to the cost synergies anticipated from the Rohm and Haas acquisition.

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