** Office equipment maker Xerox Holdings XRX.O shares fall 9.2% to $4.65 in extended trading

** XRX cuts quarterly dividend to $0.025 per share

** Co's board approves its dividend policy update in anticipation of the closing of the Lexmark transaction

** Xerox also reiterates its 2025 forecast

** "Consistent with our previously stated capital allocation priorities to reduce leverage post-closing, we believe reducing our dividend creates greater financial flexibility to deploy cash in the most accretive manner" - CFO Mirlanda Gecaj

** As of last close, stock down ~39% this year

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))