Goodyear eliminates stock dividend

AKRON (Feb. 4)—Goodyear's board of directors have eliminated the company's 12-cents-per-share quarterly dividend. The decision represents an expected annualized cash flow benefit of about $84 million to the firm and is one of several "actions the company is taking to improve its financial flexibility in light of recent disappointing results and challenging economic conditions," President and CEO Robert J. Keegan said. In October 2001, Goodyear cut its quarterly by 60 percent to 12 cents per share from 30 cents.