By Denny Jacob
Xerox Holdings shares declined 7.4% a day after cutting its dividend.
Shares were trading around $4.74. The stock is down 38% on the year.
The company reduced its dividend to 2.5 cents a share, or 10 cents a share annualized. It noted that in addition to reducing its dividend in conjunction with its planned acquisition of Lexmark since December, yields on its publicly traded debt have risen since then, resulting in an increased cost of capital.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
May 23, 2025 08:05 ET (12:05 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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