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Sears Cuts Dividend After Loss: Sears, Roebuck & Co.’s quarterly dividend cut--its first in 60 years--will save about $140 million a year, analysts said. Sears announced the cut of 10 cents a share to 40 cents after reporting a loss of $3.9 billion, or $10.72 a share, for all of 1992 and $1.8 billion in red ink for the final quarter. The last time Sears cut the payout on its common stock was in 1933, during the Great Depression.