UPDATE 1-Herman Miller cuts dividend, to close facility

* Cuts dividend 75 pct to $0.022

* To close facility in Spring Lake, Michigan

* To incur charge of $9 mln-$12 mln

May 14 (Reuters) - Office-furniture maker Herman Miller Inc (MLHR.O) cut its dividend 75 percent and said it would close its Integrated Metal Technologies (IMT) subsidiary in Michigan to save costs in a weak demand environment.

The company cut its quarterly cash dividend to 2.2 cents per share from 8.8 cents per share and expects the move to save about $14 million annually.

The company expects to incur a charge of about $9 million to $12 million related to the facility closure.

It said it will retain existing production capacity of the IMT facility, with the majority of work and equipment moving to other facilities in the area.

In December, last year, Herman Miller, hurt by weak demand, rising office vacancies and corporate downsizing, said it would reduce its workforce by 1,000 employees.

Shares of the company were up 77 cents at $13.27 Thursday afternoon on Nasdaq. (Reporting by A.Ananthalakshmi in Bangalore; Editing by Aradhana Aravindan) ((ananthalakshmi.as@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: ananthalakshmi.as.reuters.com@reuters.net))