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: Quote).
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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