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Valassis to pay 31-cent dividend

LIVONIA, Mich. (AP) -- Valassis Communications will begin paying quarterly cash starting with the quarter ending Dec. 31.

The Livonia, Mich., advertising services company said Thursday that its first dividend, of 31 cents, will be paid on Jan. 15 to shareholders of record as of Dec. 31.

Shares of Valassis Communications Inc. rose 16 cents to $27.33 in midday trading.