Alcoa to pay 3 cent dividend on common stock

The Associated Press

NEW YORK (AP) -- Aluminum maker Alcoa Inc. will pay a regular quarterly dividend on its common stock of 3 cents per share.

The company said Friday that its common stock dividend will be payable Feb. 25 to shareholders of record at the close of business Feb. 3.

Earlier this month, Alcoa reported its first net quarterly loss in more than a year. But CEO Klaus Kleinfeld predicted that cutbacks in aluminum production will help boost global aluminum demand by 7 percent in 2012.

Shares of Alcoa fell 3 cents to $10.15 in midday trading.