Nortel Declares Preferred-Share Dividends

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Nortel Networks Corp. announced dividends on its preferred shares Monday.

The vendor said it will pay dividends on both its outstanding cumulative redeemable class-A preferred shares series 5 and its outstanding noncumulative redeemable class-A preferred shares series 7.

Nortel added that the amounts will be calculated in accordance with the terms and conditions applicable to each respective series.

The dividend on each series is payable April 12 to shareholders of record at the close of business March 31.