FAIRLAWN, Ohio (July 19)—Omnova Solutions Inc.'s directors announced July 13 the elimination of the cash dividend on the company's outstanding common stock. The action will improve cash flow by $2 million per quarter in an effort to "improve financial flexibility and long-term shareholder value," the company said. Omnova, which had fiscal 2000 sales of $773 million, previously had paid a quarterly dividend of 5 cents per share since its inception in October 1999. Omnova was formed as a spin-off company from GenCorp Inc.
Omnova eliminates dividend on common stock
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