Genesis owner DCG suspends dividend payout

Jan. 18, 2023 at 2:06 am

By Mike Dalton

The decision marks Digital Currency Group's latest attempt to preserve liquidity.

Digital Currency Group (DCG) has discontinued dividend payments, according to the letter sent by the company to its shareholders on Jan. 17.

The company said in its letter that it has “made the decision to suspend [its] quarterly dividend distribution until further notice.” It is unclear whether those dividends were previously paid from the company’s general earnings or its crypto profits.

DCG cited its ongoing efforts to reduce operating costs and preserve liquidity during the poor crypto market as its reason for ending dividend payouts.

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