Goodyear cuts quarterly dividend

AKRON (Oct. 2)—Goodyear has cut its quarterly dividend payable Dec. 17 by 18 cents per share in response to slowing economic conditions, the firm announced. The dividend, payable to shareholders of record Nov. 15, will be 12 cents per share, down from the 30 cents per share the tire maker had previously paid. Goodyear historically has adjusted its dividend payment in recognition of changing economic conditions, the company said in a prepared statement. "With this action, Goodyear's dividend continues to provide shareholders a premium over its peer companies and will exceed current dividend yields of the Standard & Poors 500 and Dow Jones Industrials indices," said Sam Gibara, Goodyear chairman and CEO.