TEXSTYRENE <FOAM> SUSPENDS PREFERRED PAYMENTS Texstyrene Corp said it has suspended quarterly cash dividend payments on its 9.5 pct convertible exchangeable preferred stock. The suspension effects the March 15 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 2,115,000 dlrs for the first 11 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 733,332 outstanding preferred shares, which had been privately placed. The dividend payments on the shares amounted to 1,045,000 dlrs per year, the spokesman said.