Posted AT 6:38 PM EST on 06/11/08
Biovail on prowl for acquisition
Biovail Corp. will consider cutting its dividend if it needs cash to make a large acquisition, its chief executive officer said Thursday.
Bill Wells said cash flow is "clearly more than enough to sustain the dividend," which is currently at $1.50 (U.S.) a year, generating a yield of about 16 per cent. The company also has almost $220-million in cash and an unused $250-million line of credit.
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