CNH Global Suspends Dividend Payment

Feb. 20, 2009
The board of directors of CNH Global N.V. last week recommended that the company suspend payment of its annual cash dividend for the current year.

The board of directors of CNH Global N.V. last week recommended that the company suspend payment of its annual cash dividend for the current year.

While 2008 was a good year for CNH, in terms of both sales and profitability, the board believes that in these times of economic turbulence the company should conserve cash, while maintaining a prudent level of industrial investment, the company said.

The board's recommendation is subject to the approval of shareholders at their annual general meeting scheduled for March 20.

Burr Ridge, Ill.-based CNH Global N.V. is a global provider of agricultural and construction equipment.