OTHER NEWS - Jan. 28, 1994
From Times Staff and Wire Reports
Teledyne Suspends Cash Dividend: The Los Angeles-based conglomerate, which lost more than $116 million on sales of $2.5 billion last year, said it suspended the payout “to strengthen the company’s financial and competitive position.” Teledyne had been paying 20 cents a share quarterly, and the dividends totaled $44.3 million in 1993. The announcement came after the stock markets closed. Earlier, Teledyne’s stock had climbed 25 cents to $25.75 a share in New York Stock Exchange composite trading.
