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Silver Wheaton cuts dividend

Silver Wheaton, hit by lower silver prices and a delay in sales, announced lower third-quarter profits and a 30 per cent drop in its quarterly dividend.

Silver Wheaton, hit by lower silver prices and a delay in sales, announced lower third-quarter profits and a 30 per cent drop in its quarterly dividend. The company, which pays a dividend equal to 20 per cent of the cash generated by operating activities, said it would pay a dividend of seven cents, down from 10 cents.