	texstyrene foam suspends preferred payments texstyrene corp said it has suspended quarterly cash dividend payments on its pct convertible exchangeable preferred stock the suspension effects the march payment and it said it does not expect to pay preferred dividends in the forseeable future it said the payments were suspended because of certain covenants contained in its loan agreements a spokesman said the company s loss of dlrs for the first months as a public company did not meet an income condition on the loans leading to the suspension the maker of foam cups food containers and other products said it had outstanding preferred shares which had been privately placed the dividend payments on the shares amounted to dlrs per year the spokesman said reuter 
