Bermuda Press (Holdings) Ltd. (BPH) has slashed its dividend by almost half.

Shareholders of record at December 31 this year will receive a quarterly dividend of 10 cents per share, payable on January 15, 2010, down from 19 cents.

The company's profits for the six months ended March 31, 2009, dipped by a third compared to the prior year and in October, BPH shut down its weekly newspaper the Mid-Ocean News for financial reasons.