$NOK Skips a Dividend for the First Time in 143 Years

“Nokia Oyj (NOK1V) will omit a dividend for the first time in at least 143 years as the struggling Finnish mobile-phone maker retains cash for its comeback attempt.

The company announced the decision as it reported its first net income in seven quarters and an increase in net cash. Even the World Wars and the breakup of the Soviet Union, a major buyer of Nokia’s networking gear, didn’t stop the company returning cash to investors.

Nokia is trying to claw back business after sales plunged and combined losses had reached almost 5 billion euros ($6.7 billion) since early 2011. Chief Executive Officer Stephen Elop has cut more than 20,000 jobs and is conserving cash to challenge Apple Inc. (AAPL) and Google Inc. (GOOG) with devices running Microsoft Corp. software….”

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