Alcoa cuts dividend, seeks to raise cash
Alcoa Inc
Alcoa plans to issue 150 million shares in common stock, which would yield $850 million based on Friday's closing price, and other $250 million in convertible notes due in 2014.
Alcoa shares sunk 10 percent, or 62 cents, to $5.50 in post-market trade, erasing the 39 cent gain during the regular trading session on Monday
(Reporting by Matt Daily; editing by Jeffrey Benkoe)
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