Keweenaw Land Association Limited (KEWL.PK) announced that the Board of Directors has voted to eliminate its dividend, beginning with the first quarter of 2010. The quarterly dividend had been $0.20 per share. The Company will be paying the dividend on December 15, 2009 to shareholders of record on November 15, as previously announced.
David Ayer, President and Chief Executive Officer, said, "The Board concluded it was in the best interests of the shareholders to utilize funds, previously paid in the form of dividends, for corporate purposes and for possible future strategic initiatives."
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