Nokia Shares Slump After Dividend Axed

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Shares in the Finnish handset maker Nokia are down around 10 percent after the company announced plans to axe its dividend. The stock intially spiked after the company delivered its fourth quarter and full year results, before falling sharply. Nokia - which has paid an annual dividend for over 20 years - finished the year with 4.4 billion euros in net cash. That's down 22 percent from a year earlier, but up from the previous quarter and above analyst forecasts.