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ICO will not pay March 31 dividend on convertibles
New York, Feb. 20 - ICO, Inc. said the dividend committee of its board of directors has decided not to declare the dividend payable March 31 on its $6.75 convertible exchangeable preferred stock.
The Houston specialty polymers company said the accrued dividends for the quarter will be $544,000. Until this amount is paid to holders of the preferreds, ICO will not be able to pay dividends on its common stock.
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