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Northern Rock to not pay interim dividend to shareholders

Reports on the BBC have suggested that Northern Rock will not pay the interim dividend it announced in July before its recent turmoil.

According to the BBC, the firm has come under pressure from both the FSA and the Treasury not to make the payment of £59m.

The article says that it is likely the bank will defer the dividend payment, not cancel it altogether.

An official announcement is expected later on Tuesday or Wednesday.

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