The Bermuda Bakery Limited, which in August announced it was closing its commercial bread-making operations, has suspended its dividend for the second quarter in a row.

In a statement released through the Bermuda Stock Exchange on Friday, the company's board of directors said: "As part of the Company's reorganisation strategies announced previously, they feel it prudent not to declare a dividend at this time".

Bermuda Bakery announced in August that it would close its commercial bread-making operations but would continue to operate its bakery distribution business.

About one third of the staff in the bakery would lose their jobs as a result, the company said.

The Directors will continue to monitor the progress of the reorganisation on a quarterly basis.