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IAM GOLD Suspends Dividend to Protect Balance Sheet

Shares in IAMGOLD Corp (USA) (NYSE:IAG) are currently down over 7 percent after the company suspended dividend payment until further notice in an effort to preserve its balance sheet. The gold mining company cited the current drop in gold prices as a reason for the suspension. Right now, gold prices and the market in general are waiting for the Fed’s announcement on tapering.