June 9, 2011 / 2:19 PM / 7 years ago

Armtec's shares fall on div suspension

June 9 (Reuters) - Shares of Armtec Infrastructure Inc fell as much as 60 percent on Thursday, a day after the company said it suspended its quarterly dividend indefinitely and posted a wider quarterly loss.

The infrastructure and construction materials company blamed harsh weather conditions across the country leading to margin compressions, which have continued into the second quarter forcing the company to suspend dividend until further notice. [ID:nASA02AFP]

The shares of the company was the top loser in the Toronto Stock Exchange and was down 53 percent at C$4.95 in morning trade. Earlier in the session, it had touched a low of C$4.25. (Reporting by Aftab Ahmed in Bangalore; Editing by Joyjeet Das)

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