August 6, 2009 / 2:14 PM / 8 years ago

CANADA STOCKS-TSX pulled down 1 pct by Manulife dividend cut

 TORONTO, Aug 6 (Reuters) - Toronto’s main stock index fell 1 percent on Thursday morning as losses accelerated in the financial group, triggered by a dividend cut by Manulife Financial (MFC.TO).
 The S&P/TSX composite index .GSPTSE fell 110.56 points to 10,936.37. The hefty financials group was off 2.4 percent.
 Manulife, the top heavyweight decliner, fell 7.4 percent to C$24.31 after it cut its dividend by 50 percent in a bid to preserve capital. [ID:nN06263952]
 ($1=$1.07 Canadian)  (Reporting by Ka Yan Ng;  editing by Peter Galloway)                                      

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