LSC Communications (LKSD) will suspend its quarterly dividend. LSC announced that its Board of Directors has decided not to declare a quarterly dividend on its common stock in the third quarter of 2019, making the dividend paid in June 2019 the last dividend that will be paid for the foreseeable future. Suspending the dividend will allow LSC to redeploy approximately $35 million in cash annually.

Last year the company hiked its dividend by 4.0 percent, marking the first increase since a 25 cent per share quarterly dividend was initiated in 2016.

LSC Communications is a provider of print and digital media solutions for publishers, merchandisers and retailers worldwide. Through its Print segment LKSD provides a range of print product offerings, which include magazines, catalogs, retail inserts, books and directories. The company also provides print-related services, such as supply chain management, mail services, e-book formatting and distribution services. Its Office Products segment manufactures and sells a range of branded and private label products.