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Instant camera maker Polaroid Corp. said Monday it was suspending a 25-cents-per-share dividend on the company's stock for the first quarter.

It was the first time in at least 30 years that the company suspended dividends on common stock, said company spokesman Skip Colcord.

Chairman and Chief Executive Officer Gary T. DiCamillo said the move was part of a strategy of focusing on cash flow, increasing liquidity and streamlining the company.

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