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Eight years after financial straits forced Interpublic Group to stop paying stock dividends, the company has restored its dividend program in the wake of encouraging results for the fourth quarter of 2010 and full year.
Interpublic last paid a dividend in the fourth quarter of 2002. Bank loans that the company negotiated in early 2003 prohibited IPG from paying dividends, buying back shares and making capital expenditures.
Today, however, IPG said it had reinstated dividends and its first payment—of 6 cents per share—would be issued next month.
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