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Tickers: Dec. 15

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Iowa Telecommunications Services Inc.’s board of directors today announced a quarterly dividend of 40.5 cents per share on its common stock. The dividend is payable on Jan. 15 to shareholders of record Dec. 31.

General Growth Properties Inc., the owner of Jordan Creek Town Center, announced today that it has yet to reach a unanimous agreement that would further extend the maturity date on the $900 million mortgage loans on its Fashion Show and Palazzo shopping malls in Las Vegas. The company said it will continue to discuss its loan options with its syndicate of lenders.

Charles Schwab Corp. said it plans to cut 100 jobs, mostly at the officer level, and will take a pretax restructuring charge of $20 million in the fourth quarter, Bloomberg reported. The company also said it plans to make further undetermined cuts in staffing.

The price of crude oil rose to $50 a barrel after the Organization of Petroleum Exporting Countries (OPEC) admitted it needs to make a “sizable” production cut, Bloomberg reported. It is believed that OPEC will probably lower output targets by at least 2 million barrels a day, or 7.3 percent.

American homeowners will collectively lose more than $2 trillion in home value by the end of 2008, CNNMoney reported. The real estate Web site Zillow.com, which collects home values and analyzes home price trends in 163 markets, released a report stating that home values have dropped 8.4 percent year-over-year during the first three quarters of 2008, compared with the same period a year ago.

Northern Trust Corp. announced early this morning that it plans to cut about 450 jobs in 2009, Reuters reported. The company, which provides private banking, investment management and global custody services, said the cuts are expected to generate about $50 million to $60 million in annual savings and will not affect client services. In the fourth quarter, the company said it expects to take a pretax charge of about $20 million to $25 million, or 5 cents to 7 cents a share, related to the cuts and other costs.