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Pearson cuts interim payout by 72 percent

Reuters - UK Focus

LONDON, Aug 4 (Reuters) - British education group Pearson (Amsterdam: PR8.AS - news) slashed its interim dividend by 72 percent to 5 pence on Friday as it started a restructuring programme to tackle the pressures facing its business.

The company, which agreed to sell its stake in Penguin Random House to partner Bertelsmann last month, said its outlook for the year was unchanged after it reported a 1 percent rise in underlying sales in the first half to 2.05 billion pounds ($2.69 billion). ($1 = 0.7611 pounds) (Reporting by Paul Sandle, editing by James Davey)