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Vector Group -11% after lightening dividend

|About: Vector Group Ltd. (VGR)|By:, SA News Editor

Vector Group (NYSE:VGR) falls sharply after the company says it's cutting the quarterly cash dividend to $0.20 per share in Q1 of 2020 and will no longer pay an annual stock dividend.

"The reduced dividend will strengthen the company’s balance sheet and help it maintain its liquidity, while it meets its obligations and continues to invest in its businesses to drive long-term stockholder returns," updates Vector Group.

Shares of Vector Group are down 10.85% to $11.00 vs. the 52-week range of $8.21 to $13.77.

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