They did cut the dividend back when they announced keeping the Q4 09 dividend the same at .09/share. They said going forward it would be reduced to .06, but not eliminated totally. They also announced other moves to save money, similiar to what DRYS is announcing now, canceling new builds, not buysing new ships etc.... NM seems to react quicker then the rest of the sector. That is why I'm sticking with them. Good Management!!