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Wednesday, April 7, 2010 as of 11:14 AM ET

Dow Jones Transportation Average

The Dow Jones Transportation Average (DJTA, also called the "Dow Jones Transports") is a U.S. stock market index from Dow Jones Indexes of the transportation sector, and is the most widely recognized gauge of the American transportation sector.

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Overseas Shipholding Tanks On Dividend Suspension

Shares of Overseas Shipholding Group tanked 15% to $10.

07 midday Friday after the company said it won't pay its dividend of 22 cents a share for the first quarter. Overseas Shipholding said it wants to conserve cash to weather a challenging global economic market that hurt shippers. Overseas Shipholding, which ships oil, coal and grain products around the world, had already cut its dividend in half last August. It's also eliminated 2011 cash bonuses for senior management and reduced board member compensation. Overseas shares have plunged 70% over the last 12 months. The stock is part of the Dow Jones Transportation Average , which is up 4.7% so far this year.Copyright © 2012 MarketWatch, Inc....

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Source: Dow Jones Transportation Average on Freebase, licensed under CC-BY
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