Dana inc reduces operating costs, temporarily suspends quarterly dividend

Dana incorporated significantly reduces operating costs, secures $500 million of incremental liquidity, and temporarily suspends quarterly dividend.dana inc - company had approximately $650 million in cash and marketable securities as of march 31.dana - compensation reductions were enacted in april for all salaried associates and its board from 20% up to a 50% reduction in ceo's compensation.dana inc - has entered into a new credit facility and amended its existing senior credit facility.dana - credit facility has a 364-day term & is intended to provide access to additional liquidity & can be terminated at company's option at any time.
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