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Arconic to Break Up, Cut Dividend as New CEO Reveals Revamp

Feb. 8, 2019, 2:36 PM

Arconic Inc. plans to split in two and slash its dividend, marking a dramatic overhaul of the aerospace manufacturer in the wake of its failed sale to a private equity firm. The shares fell.

The company will separate into one company focused on parts making and another on the production of aluminum sheets, Arconic said Feb. 8 in a statement as it reported fourth-quarter earnings. One of the units will be spun off, and Arconic will consider a sale of any operations that don’t fit into either of the businesses.

“There are fundamentally different rhythms, return profiles, capital-allocation requirements” for ...

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