Dorel Industries of Montreal, owner of cycling brands such as Cannondale, GT and Schwinn as well as brands in other sectors, has suspended the planned payment of its dividend and seen a significant decline in its market capitalization. From Sept. 30 to Oct. 2, its B-class shares dropped by 32 percent, from 9.09 to 6.18 Canadian dollars on the Toronto Stock Exchange. According to the company, the decision was motivated by a review of its preliminary results for the third quarter and is largely an attempt to offset the cost of new U.S. tariffs on Chinese imports, which rose from 10 to 25 percent in May. Furniture, bicycles and other goods produced by Dorel are affected by the tariffs. Dorel had already raised prices and halved its quarterly dividend earlier in the year. A dividend declared on Aug. 2 will be paid on Oct. 2, however.

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