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Tyco declares 15-cent dividend

NEW YORK (AP) -- Tyco International Ltd. announced a quarterly dividend of 15 cents Friday.

The Swiss fire protection and security company said the dividend will be paid on Feb. 20 to shareholders of record as of Jan. 25.

Tyco's board also recommended that shareholders approve the increase of the company's annual dividend by 4 cents, or 7 percent, to 64 cents. Shareholders will vote on the increase at their annual meeting to be held on March 6.

Shares fell 25 cents to $29.23 in morning trading in a broad market sell-off.